Military Payment Certificates

Military Payment Certificates, commonly known as MPCs, were a form of currency issued to active military personnel serving abroad from 1946 to 1973. The MPC program aimed to diminish the reliance on American dollars within local economies of occupied areas, thereby curbing the inflationary impact of military spending. Various series of MPCs were released to thwart black-market trading and accumulation. Since MPC notes lack backing from the United States Treasury, they hold no monetary value in the present day.