Military Money

A new one for me...

 

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Have a picture of the back,very nice MPC !

 

Hi Krispy!

AMC (Allied Military Payment) Thats what you have there was used in Italy

From 1943 to 1944 though the exact months were uncertain

MPC (Military Payment Certificates) though there were several series starting

With Series 461 on 9/16/46 and ending with Series 692 on 3/15/73
This include Series 691 and 701 which were never issued!!

As far as being the same Yes and No, Though they serve the same purpose
They are completely different but i still consider them in the same family

Ive got some examples below of both your lira and a high grade MPC from
Series 681 $5 in 68PPQ which was issued for the Vietnam War 11/69 to 10/70

As far as reference material on AMC i do have a nice book but its a bit dated
But it does cover it very well i can send you some pages via e-mail if you like!

 

Here,s the Mpc version Series 681 $5 in PCGS 68PPQ, If i can help you with
Anything else please let me know!

 

Thanks mpcusa. Those are excellent looking examples you posted. I have always wondered about how these looked new since the one I have is so floppy and aged from many years of improper storage until it reached me. I was never able to see what the background ghosted image was until looking at those you posted.

 

I would be honored to have you join "Mpc Talk" there are alot of pictures there
Of all kinds of Military Payment including a few AMC examples also make sure
And stop by my home page there are several rare notes there including some
"Replacement notes" which are one of a kinds! And have values of over $20,000!!
So i hope you stop by!

Thanks, Rusty

 

I will check them out. Thanks for the heads up on thse sites.

 

This note is catalogued in the Standard Catalog of World Paper Money (the Pick Catalog) as Italy PM-10. There were two different printers but the price is the same for both -- $.20 in this condition.

I do not know of any online sources that will explain the difference between AMC and MPC but it can be found in Schwan-Boling's World War II Remembered. I will give you the short version.

Allied Military Currency (AMC) was issued by the Allies for use in the occupied Axis countries during WWII. It gave the Allies a supply of money to use on the local economy to compel the occupied country to pay the cost of the occupation. Under international law, an occupier has the right to determine what is legal tender in the occupied country. The Axis nations did the same thing. German Reichskreditkassenscheine and Japanese Invasion Money would be the Axis equivalents. AMC was issued in Germany, Italy, Austria, Japan and its colonies, and Denmark. The French notes that look like AMC were not occupation notes since they were issued in an allied country not an enemy country.

Military Payment Certificates (MPC) are a series of notes that were issued as pay to US troops in any number of overseas locations. MPC was first issued in 1946 and was last used in the 1970s. The purpose of MPC was to pay US troops in US currency but in an inconvertible form of US currency to limit its use on the black market. MPC was used in Allied countries like the UK and France, and also in the former Axis countries. Its use was necessitated by the fact that US troops in post-war Europe and Asia were sending back to the US amounts of US dollars far in excess of their pay. This led to an imbalance in the accounts and a significant overdraft for the military.

During the war, US troops were paid in the currency of the country they were in (except those in China who were paid in US$). This would not be possible in the occupied countries because the local currencies were subject to devaluation due to the fragile nature of their post-war economies. As an example, if US forces in Germany had been paid in marks after the war, they would have lost 90% of the value of their mark holdings during the 1948 German currency reform.

US troops could exchange MPC for local currency at the military finance cages at official rates but the local currency could not be exchanged for MPC except under limited circumstances. The system would breakdown when the locals accepted MPC even though this was illegal and they had nowhere to spend it. MPC was only legal to use on the US military installations. The locals (except employees of the US military) did not have a right to use the US military facilities. A blackmarket in MPC still developed but not near the levels that it would have been if regular US dollars were used.

In sum, AMC used as occupation currency; MPC used to pay US troops to limit blackmarketing.

 

As noted in my earlier post, AMC and MPC did not serve the same purpose.

 

Thanks lettow! This is a great intro for me to learn about these issues. I was wondering about this note specifically mentioning 'Allied' rather than 'Military' and curious if its use differed depending on country-- that is, that a Lira only be used by forces within that nation, but not in another country if they moved through a different country during the war. I really appreciate the summary.

 

As always thanks for the additional Info, But i was just trying to
make a general statement there on how are boys in blue got paid
Be it through Amc or Mpc and the different time periods when they
Were issued :bow:

 

Hey Krispy!

I tried to PM you but it says you werent accepting any messages please
Send me your e-mail and i will send that info over to you

 

MPC Fest XI

Hey MPCUSA I'm assuming you'd be at the upcoming MPC Fest in a few months and have maybe been in the past. Im in South Carolina and recently started thinking, hey I should go. Here is my question, I dont specialize in MPC, I do have a medium size collection of WW2 Era notes and a handful of MPCs, will I be able to fit in, I imagine not many there specialize in ONLY MPC plus Id like to meet Fred Schwan and hear some presentations there.

Is it worth it for someone with a only a small MPC collection, but has interest in MPCs?

 

MPCFest is a bit of a misnomer, just as the title to the MPCGram is. Both cover far more than MPC. In fact, I would say that MPC is only about 20% of the coverage in the MPCGram and at MPCFest. The vast majority of the presentations will cover areas other than MPC. As an example, I will have an exhibit at the upcoming MPCFest of the British Commonwealth and Empre Service Medals of WWII. In the past there have been presentations on tokens and paper money from British internment camps, Operation Bernhard counterfeiting, and Indian Defence Savings Certificates.

The majority of topics cover paper items (paper money, war bonds, POW notes, etc.) but coins, tokens and medals are also welcome. So are ration items, Red Cross and other ephemera related to the military (of any country) or any war or military engagement.

It is worthwhile attending the MPCFest. Although it is held on the shores of Lake Erie, attendees come from as far away as Florida, Alabama, Texas, New Mexico and southern California. You will not be disappointed.

 

Been collecting for several years and have a nice collection and constantly
Looking to upgrade, Havent been to the fest since ive always lived on
The west coast, now that i live a short distance there,s a good chance
I will be there, There are several festers that i have met locally that will
Be there so it looks good!!

 

Well I was already on the edge of going, but I may have to now. Just the idea of some collections that I could see.... it is likely a once in a lifetime experience.


Is there a group rate for the hotel usually? How much should I expect it to be? Any single riders coming from around South Carolina that would like to carpool and split gas/driving?

 

It is only a once-in-a-lifetime experience if you only go once. This April will be my 7th Fest. All of them have been a good time.

The rate for last year was $178.00 for Friday and Saturday night and all meals from Friday dinner through Sunday lunch.

 

Iam really suprised that the Mpc fest is only 20% Mpc, Because
Thats 99.99% of what i do

 

Well think of it this way...20% of a large show like Fun or ANA would be plenty for you to do dont you think. That's 20% of total MPC'ness I bet you'd still have a great time!

 

Time to broaden your horizons.

Seriously, you will still see amazing stuff (have you ever seen the books of progressive proof notes for Series 681 and 692?), meet interesting people (have you ever met an MPC destruction officer?), and have a good time (have you ever seen Fred Schwan bowl?).