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$10 Series 692 Military Payment Certificate

$10 Series 692 Military Payment Certificate S/N E01091727E

PMG Graded Choice Uncirculated 64PPQ

Military Payment Certificates :

Between September 1946 and mid 1973, there were 13 Issues of Military Payment Certificates, also known as MPC's. These Series begin with Series 461 and end with Series 692.  Military Payment Certificates were issued to our US military personnel stationed overseas.  Military Payment Certificates were used to control the black market and to keep U.S. cash from getting into the hands of the enemy. Very few Military Payment Certificates were saved, as soldiers were given just a few days notice before an old series became worthless and a new series came into effect. Thus, many of the G.I.'s who brought a few notes home as souvenirs became the first collectors of these exciting history making notes.

Series 692 military payment certificates might be described as the most American of any of the MPC notes issued between 1946 and 1973. The designers at the Bureau of Engraving and Printing used distinctly American vignettes like eagles, buffalos, and Native Americans. These were first introduced into circulation on October 7th, 1970 and withdrawn on March 15th, 1973. This is the last official series of military payment certificates ever issued by the United States. Series 692 MPCs were issued for eight different denominations. Like the prior three issues, these were exclusively used in Vietnam, which means that many came home with soldiers as souvenirs. In total, just over 214 millions dollars in face value was issued. The ten and twenty dollar notes are the most valuable.

The series 692 $10 military payment certificate oozes Americana. The front has the portrait of a Native American in full headdress. The back shows an eagle with its wings spread and talons in action. The front also has the same text as every other MPC, “for use only in united states military establishments by united states authorized personnel in accordance with applicable rules and regulations.”

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