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MPC questions anyone? (answered)

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I will be visiting the US Army Finance Corp Museum curator in the near future (probably next week) to get some reference material from him and was wondering if anyone has any questions they would like me to ask when I go in.

 

PM me or post on my link and I will find out what he knows!

 

mtn

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Will do, I am going to remind myself here also of my own questions:

 

1) Ask whether the museum also has a supply of Series 701 notes and Series 691 $5.00 and $10.00 notes.

 

2) Ask if he will let me get an inventory of the serial numbers he has on display for these series as well. Never know if there are fakes floating around and it is at least one small check that can be made.

 

3) Ask if he has ever seen or has any FDS training currency from Ft. Ben

 

4) March 15, 1973 is shown as the last date of MPC use in Vietnam which corresponds to the U.S. pullouts (pretty closely). How was the exchange conducted? Was it in country or in CONUS? Were they exchanged for US currency?

My understanding is that the exchange was made for the last personnel leaving Vietnam stateside.

 

 

5) Series 651 was the last series issued in South Korea (during the Vietnam War), when was it retired and was it also replaced with US currency?

19 November 1973 which makes it the last MPC used. It was replaced by regular US dollars. (thanks lettow)

 

6) According to the museum Series 691 was printed in 1967 which contradicts the series numbering convention of series number equals year of printing. Why was it not numbered series 671 if it was printed in 1967?

 

7) What did the military do with the obsolete notes after C-Day? Did they store or destroy them? Is it safe to assume the ones in the collectors market today are all ones that didn't get exchanged? Found this one...it was destroyed usually by burning.

 

8. What is the chance the US will be releasing any of the notes they have in storage for sale to the public?

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1) Ask whether the museum also has a supply of Series 701 notes and Series 691 $5.00 and $10.00 notes.

 

Yes...a rediculous amount of them. According to him (which he seemed kind of apprehensive about telling me until we sat and talked for a while). Both series were being stored at Ft Ben Harrison until the late 90's or so, then they decided they needed the space. They shipped them to Anniston Army Depot which is the holding center for all Army museums. In the early 2000's the Anniston Army Depot decided they no longer had the space and were going to shred them. At that point the museum here said they will find space to store them and they were shipped to Fort Jackson around 2003. Over 350 cases of them and it filled an entire semi-trailer. I have asked if he can get me a picture of the cases all stacked up so I will have to wait and see if he comes through. In theory he is supposed to have all of the 691 and 701 notes (with the exception of what is out on the market).

 

2) Ask if he will let me get an inventory of the serial numbers he has on display for these series as well. Never know if there are fakes floating around and it is at least one small check that can be made.

 

This would take too much time and most of the crates are still sealed. I may readdress this and offer to inventory them for him if time permits at the end of my schooling and he is willing to let me do it.

 

3) Ask if he has ever seen or has any FDS training currency from Ft. Ben.

 

Yep, had some handy but they aren't anything of signficance. In fact he said I will be using them for training in November so there you go...

 

4) March 15, 1973 is shown as the last date of MPC use in Vietnam which corresponds to the U.S. pullouts (pretty closely). How was the exchange conducted? Was it in country or in CONUS? Were they exchanged for US currency?

 

My understanding is that the exchange was made for the last personnel leaving Vietnam stateside.

 

It was done in country and for US Currency.

 

 

5) Series 651 was the last series issued in South Korea (during the Vietnam War), when was it retired and was it also replaced with US currency?

 

19 November 1973 which makes it the last MPC used. It was replaced by regular US dollars. (thanks lettow)

 

6) According to the museum Series 691 was printed in 1967 which contradicts the series numbering convention of series number equals year of printing. Why was it not numbered series 671 if it was printed in 1967?

 

He kind of sidestepped this question and I didn't pursue it so will have to readdress later on when I go back. I will be spending a few hours in the museum at the end of the course when I have some down time. He did say that the series was printed completely once then destroyed and reprinted again. Not sure if he meant the first printing was in 1967 and destroyed then the reprinting done in 1969.

 

He has some specimen books and let me check those out which were really cool. Each denomination of a series had about 10 notes in a specimen book to show each different layer of printing. Below is a picture of a series 692 $1 with one or two layers (I can't remember). I will be scanning a bunch of these when I go back as well to show the entire progress of the printings...

 

If anyone knows what the cut corner means it would be helpful as well. I have seen it before but only series 692 and not only on specimen notes.

 

specimen.jpg

 

Lastly, we mainly just sat around and talked about the current economy and past historical events that have seemed to repeat themselves. Military retirement being a highlight. One question he had that was MPC related was what did they do with the fractionals when a series like 651 which was only $1, $5, $10, $20 was pushed out as a replacement? did they keep the fractionals out from the previous series or collect them all and destroy them?

 

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Great info.

 

The Series 692 $1.00 note you show and the booklet you described with these notes are not specimens but progressive proofs. The difference being that specimens are completed notes while the progressive proofs depict the various stages of the printing.

 

The Series 651 fractionals were destroyed. I have met one of the destruction officers from Korea who participated in the destruction there. Those 651 fractionals on the market were "liberated" at the time of destruction except for one piece which came from Libya. This is divined from the serial numbers on the known examples and information provided by those who were there. The 651 fractionals were originally issued but were only in use for a few weeks before being withdrawn.

 

The 692 fractionals were also withdrawn in Vietnam and replaced with US coinage prior to the end of the use of the higher denominations for this series. These fractionals were destroyed also.

 

The information about the museum having all of the 691 and 701 notes is illuminating. The current numismatic literature indicates that the entire stock was destroyed at Anniston except those that were purloined and the "few" that ended up at the museum. Schwan and others will be surprised to hear that there are 350 cases of 691 and 701 notes at the museum.

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