Military Payment Certificate - Series 461 - 5 Dollars - CurrencyInv# MPC1006 Paper Money
5 Dollars Military Payment Certificate, Series 461. Military payment certificates, or MPC, was a form of currency used to pay United States (US) military personnel in certain foreign countries in the mid and late twentieth century. They were used in one area or another from a few months after the end of World War II until a few months after the end of U.S. participation in the Vietnam War – from 1946 until 1973. The certificates were made by line lithography to create colorful banknotes that could be produced cheaply.
Fifteen series of MPCs were created, but only 13 series were issued. The remaining two were largely destroyed, although some examples remain. Among the 13 released series, a total of 94 notes are recognized. MPCs evolved from Allied Military Currency initially used in Europe during World War II. This was a response to the large amounts of US Dollars circulated by American servicemen in post-World War II Europe. Because the futures of local governments were unclear, the local citizens might not trust local currencies. Because they preferred a stable currency like U.S. dollars, local civilians often accepted payment in dollars for less than the accepted conversion rates. As dollars became more favorable to hold, the local currencies became inflated, thwarting Allied plans to stabilize local economies. Read more at https://en.wikipedia.org/wiki/Military_payment_certificate