25 Cents Military Payment Certificate

Series 692, issued from 1970, was the second-to-last MPC series before the program was finally discontinued in 1973. MPC notes existed to prevent U.S. currency from leaking into local black markets near overseas military installations — a persistent problem in Vietnam, West Germany, and South Korea, where dollars commanded significant premiums. Periodic "C-Day" conversions, conducted without warning, would invalidate an entire series overnight, wiping out anyone holding notes outside authorized channels.

Series 692 was retired in that manner on 11 June 1973, replaced briefly by Series 701 before the program ended entirely that same year.