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$5 Series 691 Military
Payment Certificate PMG Gem Uncirculated 66EPQ Low S/N D00000009D
A low serial number 9 note from the First Printing of two for this
unissued series and denomination. This is one of only three single
digits.
Military Payment Certificates :
Series 691 military payment certificates never
actually entered circulation. These were shipped to Korea but never
used. They were returned to the
United States and tested by the Bureau
of Engraving and Printing. It was determined that they were indeed not
fit for circulation. Series 691 MPCs would just be a footnote in the
history books. However, when these were being destroyed in the 1990s
some enterprising individual saved lots of them. Today you can buy one,
five, ten, and twenty dollar denomination notes. And since these never
circulated, they will all be in really high grades. The five and ten are
the rarest denominations; and $1 bills are the most common. The $20 is
somewhere in between. The design of these notes is the same as the
earlier series 541 issue. And yes, there are even replacement MPC notes
known for this series despite the fact that none were ever technically
replaced. Replacement notes are quite scarce. You can spot a replacement
note on 691 military payment certificates by looking at the serial
number. If it begins and ends with D then you have a regular issue. If
there is no D at the end of the serial number then you have a
replacement and financial rewards await you.
Series 691 & 701
The two series of unissued Military Payment Certificates (MPC) were
Series 691 and Series 701. The US Army held these two series until 1991,
when the US Treasury demonetized (voided) both series.
At the time, the US Army Finance Center at Ft Ben Harrison held the
entire collection. The Finance Center transferred the collection to the Center of Military History
and the US Army Finance Corps Museum by 1993; which in turn moved it to
a holding facility at Anniston,
Alabama.
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.
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