1 dollar 1948
“series 472”
About This Note
This is a 1948 U.S. Army Military Payment Certificate (MPC) in the $1 denomination, graded Fine (F) condition. The note exhibits the characteristic design elements of Series 472 MPCs, featuring ornate classical frames, the Great Seal eagle, and complex wavy security patterns in blue and green on the obverse and maroon/burgundy on the reverse. While the visual analysis suggests near-uncirculated condition, the catalog grade of Fine indicates some subtle wear consistent with light circulation or careful handling during military use.
Common. Military Payment Certificates from the 1948 Series 472, while no longer in circulation and restricted to collectors, were produced in substantial quantities for military use. The $1 denomination was one of the most frequently issued denominations in MPC series. No evidence of restricted print runs, recalls, or short-lived issuance exists for this Pick number. Fine condition examples are readily available in the collector market at modest prices.
Military Payment Certificates were issued by the U.S. Army for use in overseas military establishments during and after World War II, replacing standard U.S. currency to prevent black market currency speculation in occupied territories and allied nations. The 1948 Series 472 represents the post-war period when MPCs continued to be used for troop payments and base transactions in strategic locations. The Great Seal eagle depicted on both sides symbolizes U.S. military authority and legitimacy of this restricted currency.
The obverse features a distinctive two-panel layout with a left panel containing vertical blue wavy lines and regulatory text, a central ornate oval decorative frame with the numeral '1' in classical engraved styling, and a right panel with complex wavy background patterns. The Great Seal of the United States—depicting the eagle with shield, olive branch, and arrows—appears in a circular seal in the upper portion. The reverse presents a simplified design dominated by a large ornamental cartouche or decorative frame in the center containing the Great Seal eagle, surrounded by fine wavy line security patterns throughout, with usage restrictions printed at the bottom. The color scheme combines blue and green on the front with maroon/burgundy and cream tones on the back.
Front side: 'MILITARY PAYMENT CERTIFICATE' (title), 'DOLLAR' (denomination name), '1 DOLLAR' (denomination), 'ONE' (denomination spelled out, appears twice), '$1' (symbol form), 'C0360404000' (serial number), and 'FOR USE ONLY IN UNITED STATES MILITARY ESTABLISHMENTS BY UNITED STATES AUTHORIZED PERSONNEL IN ACCORDANCE WITH APPLICABLE RULES AND REGULATIONS' (usage restriction). Back side: 'MILITARY PAYMENT CERTIFICATE' (title) and 'FOR USE ONLY IN UNITED STATES MILITARY ESTABLISHMENTS BY UNITED STATES AUTHORIZED PERSONNEL IN ACCORDANCE WITH APPLICABLE RULES AND REGULATIONS' (usage restriction).
Intaglio (steel plate engraving), the standard security printing method for U.S. currency and Military Payment Certificates. The complex wavy line patterns, ornate classical scrollwork, and fine detail visible in both the eagle depictions and decorative frames are characteristic of intaglio production. The Bureau of Engraving and Printing (BEP) produced U.S. Army MPCs during this period.
The visual analysis identifies the serial number as C0360404000, with the 'C' prefix indicating a specific printing batch or series run. Series 472 is the designated series for this 1948 issue. No overprints, date variations, or signature varieties are apparent from the images. Standard MPC varieties for this period relate to series designation and prefix letters on serial numbers; this note exhibits standard characteristics for the cataloged Pick number P-M19.
