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5 Dollars Military Payment Certificate
| Issuer | United States Military Payment Certificate |
|---|---|
| Year | 1951-1954 |
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| Composition | Log in to see details |
| Size | 160 x 67 mm |
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| Obverse description | Log in to see details |
|---|---|
| Obverse lettering | Military Payment Certificate SERIES 481 5 FIVE DOLLARS FOR USE ONLY IN UNITED STATES MILITARY ESTABLISHMENTS BY UNITED STATES AUTHORIZED PERSONNEL IN ACCORDANCE WITH APPLICABLE RULES AND REGULATIONS. |
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| Reverse lettering | MILITARY PAYMENT CERTIFICATE FOR USE ONLY IN UNITED STATES MILITARY ESTABLISHMENTS — BY UNITED STATES AUTHORIZED PERSONNEL IN ACCORDANCE WITH APPLICABLE RULES AND REGULATIONS |
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| Comments |
Military Payment Certificates were introduced in 1946 to replace the dollar in U.S. military occupation zones, specifically to prevent black market currency operations that had become endemic in postwar Europe and the Pacific. Series 481, which covers this note, was issued from March 1951 through May 1954 — spanning the final phase of the Korean War and the early occupation period that followed.
MPCs could be exchanged only by authorized personnel, and "conversion days" — announced without warning — instantly rendered old series worthless to anyone holding them outside the system. That mechanism was the entire point.