Most military payment certificate series 481 notes aren't very valuable. However rare notes exist and they can sell for more money. Continue reading to learn more about these notes.

Military Payment Certificate Series 481 5 Cent Note
A military payment certificate series 481 5 cent note

Military payment certificates (MPC) were used to pay US military personnel stationed in foreign countries. They were created in order to reduce currency arbitrage. These MPCs could be redeemed for US dollars when a soldier left an MPC zone. If a soldier went on leave then the MPCs could be converted into local currency.

The MPC series 481 notes were issued from June 20th, 1951 to May 25th, 1954. They were issued to US military personnel in the following countries: Austria, Belgium, England, France, Germany, Greece, Hungary, Iceland, Italy, Japan, Korea, Morocco, Philippines, Ryukyus, Scotland, Trieste, and Yugoslavia.

Value

The value will mainly depend on the series and the note's condition. Replacement notes will sell for higher prices.

The MPC series 481 5 cent notes are worth around $2 in fine condition. In very fine condition the value is around $4. Uncirculated notes can sell for around $27.50.

The MPC series 481 10 cent notes are worth around $2.50 in fine condition. In very fine condition the value is around $4.50. Uncirculated notes can sell for around $35.

The MPC series 481 25 cent notes are worth around $10 in fine condition. In very fine condition the value is around $18.50. Uncirculated notes can sell for around $60.

The MPC series 481 50 cent notes are worth around $10 in fine condition. In very fine condition the value is around $25. Uncirculated notes can sell for around $275.

The MPC series 481 $1 notes are worth around $20 in fine condition. In very fine condition the value is around $45. Uncirculated notes can sell for around $295.

The MPC series 481 $5 notes are worth around $80 in fine condition. In very fine condition the value is around $175. Uncirculated notes can sell for around $3,000.

The MPC series 481 $10 notes are worth around $35 in fine condition. In very fine condition the value is around $85. Uncirculated notes can sell for around $1,750.

Replacement Notes

Replacement notes are more rare and more valuable. These replacement notes have a number at the end of the serial number, where as the standard notes have a letter at the end of the serial number.

The MPC series 481 5 cent replacement notes are worth around $75 in fine condition. In very fine condition the value is around $125. Uncirculated notes can sell for around $600.

The MPC series 481 10 cent replacement notes are worth around $85 in fine condition. In very fine condition the value is around $150. Uncirculated notes can sell for around $450.

The MPC series 481 25 cent replacement notes are worth around $225 in fine condition. In very fine condition the value is around $400. Uncirculated notes can sell for around $800.

The MPC series 481 50 cent replacement notes exist but they are very rare. It's not possible to determine an accurate price range due to the lack of recent sales data.

The MPC series 481 $1 replacement notes are worth around $450 in fine condition. In very fine condition the value is around $475. Uncirculated notes can sell for around $1,000.

The MPC series 481 $5 replacement notes exist but they are very rare. It's not possible to determine an accurate price range due to the lack of recent sales data.

The MPC series 481 $10 replacement notes are worth around $900 in fine condition. There is a lack of recent sales data for notes in the higher condition grades.

Grading System

Fine- A note that has clearly been in circulation. The note has lost its original crispness and very fine detail. There are pronounced creases. The note is not completely stained or spoiled.

Very fine- A note that has been in circulation but not for a long time. The note is still relatively crisp. There may be some creases, folds, or light smudges.

Uncirculated- A note that shows no signs of ever having been in circulation. The note still has its original crispness. The note is also well-centered.

 

Sources:

Standard Catalog of United States Paper Money


See also:

Military Payment Certificate Series 521
Military Payment Certificate Series 641
Military Payment Certificate Series 681