10 Dollars Military Payment Certificate

Military Payment Certificates were introduced in 1946 to limit the black market damage caused by American servicemen converting dollars into local currencies and back again. Series 472, the third MPC series issued, circulated in Japan, Korea, and several other occupation zones during a period that overlapped with the outbreak of the Korean War in June 1950. The timing matters: troop surges dramatically increased MPC circulation volumes, and the Army periodically conducted unannounced "conversion days" — C-Days — where old certificates were exchanged for a new series within hours, stranding anyone holding MPCs illegally.

Tudor Press, a Boston-based commercial printer, produced multiple MPC series despite having no background in security printing. The contracts raised eyebrows at the time, and the quality control issues that emerged across the MPC program generally are well documented in Army finance records.