Series 481 military payment certificates were put into circulation on 6/20/51, then were redeemed and devalued on 5/25/54. Jointly produced by Forbes Lithograph and Both Tudor Press, these were the first Military Payment Certificates (MPCs) that used classic vignettes and imagery like other American currency. Despite the short time in circulation, the 481 MPCs were circulated in 18 different countries in 7 different denominations, which also underwent from 3 to 4 print runs. Because of the volume produced, these otherwise common looking notes can be quite rare, particularly if the serial number starts with a 1 instead of the starting letter “D” that was used on the majority of these certificates!
