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50 Cents Military Payment Certificate
| Issuer | United States Military Payment Certificate |
|---|---|
| Year | 1961-1964 |
| Type | Log in to see details |
| Value | 50 Cents (0.50) |
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| Composition | Log in to see details |
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| Obverse description | Log in to see details |
|---|---|
| Obverse lettering | MILITARY PAYMENT CERTIFICATE SERIES 591 FIFTY CENTS FOR USE ONLY IN UNITED STATES MILITARY ESTABLISHMENTS — BY UNITED STATES AUTHORIZED PERSONNEL IN ACCORDANCE WITH APPLICABLE RULES AND REGULATIONS. |
| Reverse description | Uniform red intaglio print on cream paper. Central medallion with large numeral 50 enclosed in an ornate circular guilloche wreath with laurel branches, set against a fine wavy-line underprint. Denomination numerals 50 CENTS repeated in upper corners and 50 in lower corners. |
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| Comments |
Military Payment Certificates were introduced after World War II specifically to prevent black market currency manipulation — American servicemen were paid in scrip rather than dollars so that unauthorized dollar accumulation by foreign nationals could be controlled, and the series could be invalidated overnight with little notice. Series 591, which covers this note, was issued from 1961 and replaced during a conversion day in 1964, when unannounced exchanges gave black marketeers no time to redeem ill-gotten holdings.
Conversion days were typically kept secret until hours before execution. Anyone holding Series 591 scrip outside authorized channels found it worthless by close of business.