Old Money

4개월 전
My father served in the US Army during his early twenties for a standard two-year tour-of-duty. He was assigned to the Headquarters Company of the 315th Signal Corps Construction Battalion in Germany during the Korean War. The battalion's task was to facilitate rebuilding of Europe after the ravages of World War II, and my father's job was part of the supplies requisition and delivery team. While there, he visited parts of Germany, Switzerland, Liechtenstein, and Luxembourg. He possibly was in Belgium briefly, on business, but I am not certain about that. While going through my father's things after he passed, I found two currency notes that I want to share here.


These banknotes were issued by Nederlandsche Bank from 1949 through 1954. The portrait featured on the obvserse (front) is Queen Juliana, who reigned from 1948 through 1980. When she passed at the age of 94, she was the longest-lived former reigning monarch in the world. It was Queen Juliana's daughter, Beatrix, who succeeded her mother as monarch, and Queen Beatrix's son Willem-Alexander now reigns over the kingdom. Regarding Queen Juliana, Wikipedia notes that Her Majesty was "was noted for her courtesy and kindness."


Besides the serial number, the back of the banknote features beautiful geometric designs which are quite fascinating, and probably serve as an anti-counterfeiting measure as well as adding to beautify the note. Seeing this makes me think of three awesome ladies on the Steem blockchain: @brittandjosie @poeticsnake @soyrosa




When my father was in the military, soldiers were paid with a special military "scrip" which was redeemable for goods at the "Post Exchange" (PX). I found one such example of military scrip which my father kept as a keepsake:


I knew nothing of these, so I searched online and found this:

Series 481 military payment certificates entered into circulation on June 20th, 1951. They were redeemed and devalued on May 25th, 1954. A total of around 330 million dollars in face value of 481 MPCs were issued. This series was circulated in 18 different countries. Both Tudor Press and Forbes Lithograph shared the printing responsibilities for this issue. These are really the first MPCs to use classically inspired vignettes. Just like all the earlier military payment certificate issues, 481 notes were printed in seven different denominations.  [source]


I could not fathom the need for such a Military Payment Certificate (MPC), so I did some reading on them. The very informative article "Military Payment Certificate" in Wikipedia explained the need for them when US military personnel are stationed in other countries in order to prevent damage to the local economy, hoarding issues, and black-marketeering.

Preferring a stable currency like U.S. dollars, local civilians often accepted payment in dollars for less than the accepted conversion rates. Dollars became more favorable to hold, inflating the local currencies and thwarting plans to stabilize local economies. Contributing to this problem was the fact that troops were being paid in dollars, which they could convert in unlimited amounts to the local currency with merchants at the floating (black market) conversion rate, which was much more favorable to the GIs than the government fixed conversion rate. From this conversion rate imbalance, a black market developed where the servicemen could profit from the more favorable exchange rate. [source]

So, that was the reason the Military Payment Certificate program was implemented, and it was in-force from 1946 until 1973. Apparently, such notes are no longer issued, being retired in favor of a debit-card styled system. This note which was retained as a souvenir by my father has no redeemable cash value today (as this particular series was retired in 1954), but certainly holds value as a collectible and historical item.

Both of the notes mentioned in this post are now in the possession of my brother, as I let him take them since I am keeping most of the coins that my parents had collected over the years.

ThanksForReading--Pink.png 😊

   1 AntiqueMoney.com: Series 481 Military Payment Certificate
   2 LetoverCurrency.com: 1 Dutch Guilder muntbiljet 1949




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Ohhhhh wow I am Dutch and never seen that banknote before. I think it maybe worth a lot because of its age and also the guilder is in the past.
Great one ☝️ To have in your collection

I love these bills! Thanks for sharing on P.Y.P.T.!!


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My father kept his old banknotes from Europe when he was there in the late 40's and '50s. He was a 17 year old with no immediate need for money as he worked so much.

I was fascinated by this post as it covers so much that my own father did and saved. Which was funny because it was a rare occasion that he ever spoke about his time in the Army, then Air Force as he was in when it split.

Thank you for the awesome write!


Fascinating stuff. The military effectively creating their own money. I guess this kind of thing was pretty common in history before central banking really became entrenched.

That's really something nice to keep. An old not can actually become a fortune. Nice artwork on the notes.

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I received MPC during my stint in the U.S. Army. The locals even valued the MPC more than their own currency. We called it monopoly money.

Congrats on the rally-upvote!

Interesting bit of history on the notes issued @thekittygirl times have changed!

I am Dutch and was not aware of a paper guilder. The silver guilder and 2,5 guilder are more common. Maybe the war made silver scarse….

Wow, the military payment certificate is kinda dazzling with that pink!

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a very good post from the old days, I like the old money collection too

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Old money is always fascinating to me.

This is absolutely fascinating @thekittygirl. And those notes: all so beautiful.


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I don't believe in money any more, but for no I'm forced to use it until something better comes along

I love the geometric design on the back of the Queen Juliana note. ♥︎♥︎⚖️♥︎♥︎

These are indeed prized possession :)

Great post! Sure wish the US still cared about stabilizing economies elsewhere. Seems like destabilizing them is our intent now.

WOW... great article. I learned something new! This is my first look t a Military Payment Certificate. That is so interesting. Thanks for sharing @thekittygirl! Have a wonderful day. Take care.

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Interesting, I didn't know that about that MPC money. I remember coming into contact with US military personal in Germany in the late 70s. They got regular US dollars as pay then. It was a good pay for them when converted into D-Mark previously, but in the later 70s the exchange rate took a dive and they got much more reluctant to spend money on the german side.

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@thekittygirl - very interesting! I knew there was some type of military payment system in effect way back when, but I didn't know the details. Thanks for researching and sharing.

I always wonder how many hands those old notes went through. Most of those hands no longer around. If only notes could tell their stories about their adventures.
Great post here my friend!

I'd never heard of MPCs before - looks like they came out after my late father left the Navy. Cool bits of info, as always, @thekittygirl and...
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Cool note. Here is one of my banknotes from 1951, it is a white £5

I love old colorful bank notes. What great souvenirs from your father’s time abroad and military service.

Very interesting about the military payment certificates. I didn't know they did that. I really like looking at old currencies, so thanks for sharing this.

Very interesting!
I had never heard of those military payment certificates - thanks for sharing that knowledge about them!

Wow, that is super interesting, @thekittygirl! I love history. I haven’t done a dive into coin and currency history, but you have inspired me.

Howdy thekittygirl! How interesting...I had never heard of the Military Payment Certificate system before which is surpising, those are great keepsakes from your dad!

My dad had some MPC's in his collection that he picked up during the war, so I purchased the same denomination notes in graded crisp uncirculated. I like looking at my mamma and daddy's stuff all the time.

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Won't be much longer and paper money will truly be a thing of the past. Neat relics of a simpler time. Hope your brother takes of them!

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I'm ex-military, a history buff and an ex-hedge fund manager ... and I had never heard of Military Payment Certificates.

Fascinating explanation. MPC's make a ton of sense now that I think about it.

Great Post!


Thanks for the brief history lessons, very informative. #pypt got me here and, keep stackin!

another person who loves old paper money!

I use to love collecting older money and ones from different countries. I was more into coins but that is some amazing looking paper money. It is always amazing how detailed of a print they where able to get back in the day. Thanks for sharing.

wow! what an amazingly informative post. the history on these notes is just so epic. thank you for sharing with us.

wowowow! so great! i am so amazed at the mpc - soo interesting, and so detailed. thank you!