What are MPCs and why did the US Military issue MPCs?

Jeff Smith, President of Treasured Stocks in Pocatello, Idaho knows a great deal about building coin and currency collections. A military veteran of the US Navy, Smith recalls receiving his pay with Military Payment Certificates, fondly known as MPCs, and spending these MPCs at the base PX.

The United States military devised the MPC program immediately following WWII. In post war Europe, US dollars became very valuable due to the high inflation rates of local currencies. Hence, US servicemen stationed overseas could purchase high value items for relatively small numbers of US dollars. To overcome this problem and help stabilize foreign economies, MPCs were developed and used from the time immediately following World War II until the Vietnam War ended (1946-1973). In the opinion of many collectors, MPCs include some of the most beautiful currency notes the US has ever printed. They are paper money in cent denominations of 5, 10, 25 and 50 and dollar denominations of 1, 5, 10, and 20. The MPC program was at its peak during the Vietnam War, Jeff Smith said.

Understanding the history of each piece of currency or coin is an important value consideration. Jeff Smith knows that one great way to learn about history and military conflicts is through currency and certificates. 

To examine Jeff's award-winning MPC collection -- Stars & Stripes -- click on this link.

Published in Currency News

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