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 Replies: 14 / Views: 3,197 |
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Valued Member
United States
309 Posts |
I must admit I didn't know much about Military Payment Certificates (MPC) until I found a bagful at an estate sale. I bought it and brought it home and let it fester for months until I met a fellow who told me it is collectable and described MPC Fest, like some rock concert in Ohio for those so inclined. I discovered the U.S. issued many series from 1946 to 1969. This was as a follow-on to overprint Hawaii and special North Africa notes of WWII. I had a pile from 1959,first issue, hence "Series 591." This particular MPO was issued at bases in Japan and several other overseas locales until a surprise redemption day in 1964 when all of that series was called in to be exchanged for a new series, the old becoming worthless overnight. This is done to prevent camp followers from fleecing the soldiers of too much money. Now in my lot was a strap of five cent notes, all new with the original band. I inquired about having it graded by a TPG and they said they would certify individual notes but not a full strap of notes. What to do? Obviously they are uncirculated. How much interest would the lot in their original strap stir up at MPC Fest? Are straps of MPC notes uncommon? |
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Pillar of the Community
United States
2850 Posts |
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Pillar of the Community
United States
4409 Posts |
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Pillar of the Community
United States
1116 Posts |
At the time that I was using MPC never in my life would I have imagined a civilian market for those notes. I kept a few notes as a personal curiousity and turned the rest in. If I was told that a $.05 MPC would be worth anything but face value. Now I wish that I had kept all the I could not just the few that I did.
Its unbelievable.
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Pillar of the Community
United States
742 Posts |
I'm one of those folks that attend the MPC rock concert in Ohio. A pack of Series 591 $.05 notes would attract some attention only because I do not think any packs of Series 591 notes are known from any denomination. There is an auction at the MPCFest and I would suggest either consigning it there or putting it out on ebay. I can help you get it in the Fest auction. It would probably be better to sell as a pack. Selling the individual notes would flood what is a very small market in the first place. If you have not done so already, search the pack for replacements. The serial number on a replacement will not have a letter at the end and the number will be out of sequence with the rest of the pack. If there are enough replacements, you would then want to break up the pack and sell them separately. Please contact me if you would like to discuss it further. |
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Pillar of the Community
 United States
2448 Posts |
Same here gostrider. Never in a million years. I remember what some Viet Namese did when the MPs wouldn't take their MPC to exchange in 68. No pretty.
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Valued Member
 United States
309 Posts |
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Pillar of the Community
United States
959 Posts |
@Pistareen;
I would be curious if you have you done anything with this strap of 5 cent MPC's yet?
I started collecting MPC's a few months ago, and am finding how popular they are. I was stationed in Germany in the late '60's, but we were paid American dollars. I like them for their short lived history, and the way they stand out; being unique in colors.
Seeing this post is almost 2 years old, I'm sure you have found out they are worth a good deal more than 5 cents; especially the replacement notes.
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Valued Member
United States
309 Posts |
Thanks for the interest. Despite being a two year old post I have not followed up yet with MPC Fest and these notes are still with me in a safe deposit vault awaiting the day I amass 250 quality posts and can receive PMs from CCF members. I would be interested in finding them a good home as they are at the fringes of my collecting interests. In fact I've been collecting coins for over fifty years and will need to begin placing all sorts of neat stuff with young collectors soon after I retire and can take the time to photograph and post some items with good history and value.
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Pillar of the Community
United States
742 Posts |
An UNC Series 591 $.05 replacement sells for about $700.00. I would check the pack. You don't have to take it apart to do so.
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Pillar of the Community
United States
959 Posts |
 The book I have says $1250, but what's a few hundred? The replacement notes can be be worth thousands |
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Pillar of the Community
United States
742 Posts |
I don't care what a book says. Recent auction sales are more relevant than what a book says. Especially if that book is Schwan's 8 or 9 year old edition of the MPC catalog.
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Pillar of the Community
United States
822 Posts |
I'd be curious to know what it says on the side of the strap. The text that precedes "...age do not run in se-quence..."
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Pillar of the Community
United States
677 Posts |
Quote:
Thanks for the interest. Despite being a two year old post I have not followed up yet with MPC Fest and these notes are still with me in a safe deposit vault awaiting the day I amass 250 quality posts and can receive PMs from CCF members. I thought it was only 50 posts? |
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Pillar of the Community
United States
959 Posts |
Quote:
I don't care what a book says. Recent auction sales are more relevant than what a book says. Especially if that book is Schwan's 8 or 9 year old edition of the MPC catalog Taken from The Standard Catalog of United States Paper Money-35th Edition (Latest)...........Just Saying! |
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Replies: 14 / Views: 3,197 |
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Posted 02/05/2015 11:21 pm
