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    Description

    Korean MPC Coupon Series 1 5¢ Schwan 961 Very Fine. From the mid-1960s to 1969, South Korea and Thailand troops used Military Payment Certificates like United States troops in Vietnam. Extensive black marketing activities by those allies, who also had the largest serving contingents, led to a new financial control agreement in 1969 between them and the United States. The South Korean and Thai soldiers were paid with their respective MPC coupons along with a like amount of United States MPC. The South Korean and Thai soldiers then had to pay for goods and services with MPC and a like amount of MPC coupons. Since the MPC coupons were not theoretically available from black marketeers, this action greatly decreased the amount of merchandise entering the black market. MPC coupons were printed by the United States Navy Printing Facility on Guam. The first inkling of these items in numismatic literature did not arise until 1975. The 5¢ coupon in this lot has most of its circulation restricted to the center of the note. Near the right hand edge are four pinholes. The back right-hand corner also reveals a small red ink dot. The approximate dates for Series 1 was December 29, 1969 to June 1970. Series 1 is also the only uniface series and it is rarely available. Schwan numbers come from the fourth edition of Comprehensive Catalog of Military Payment Certificates by Fred Schwan.

    Auction Info

    Auction Dates
    August, 2008
    19th Tuesday
    Internet/Mail Bids: 1
    Lot Tracking Activity: N/A
    Page Views: 320

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