5th Military New: "Military Payment Certificates"http://militarypaycertificate.blogspot.com/p/series-691-701.htmlMilitary Payment Certificates (MPC) range from 5 cents to $20 and were used specifically overseas by the military and authorized civilians. The Secretary of War approved their use 7 August 1946. They were first issued 16 Sep in Europe and 29 Sep in the Pacific. They are no longer used as currency.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.The Federal Government has never officially issued or released either of these two series, but there are small quantities that have "leaked" into the collector's hands.Series 691 was originally printed in October 1967 and shipped to the Republic of South Korea to replace Series 651. Since this series was never issued, the military returned it to the United States for storage. Years later, the Bureau of Engraving and Printing (BEP) tested several notes and determined them to be unfit for circulation. The notes were ordered destroyed and a second printing was commissioned.Fractional denominations of this series were never printed.
According to best estimates, BEP printed a total of 28,304,000 notes during both printings of this series, for a face value of $188,240,000.
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