Money during the Korean War - 1950-52

1. Military Payment Certificate - 10 Sen Front

The Military Government in Japan issued this money to slow down the black market trading and illegal money exchange. The U.S. Government did not want the free flow of U.S. greenbacks in Japan. On occasion with only 24 hours notice they would call for an exchange of this money for new money. They would give 24 hours to exchange this money for money of a different color. Thus people holding great sums of the old money would have to explain how they had so much money. And only service people could exchange the money. After the 24 hours the old money was worthless. Tough luck to the black marketers. The exchange rate in 1950 was 360 Yen to the US Dollar. It is 100 Sen to the Yen. So it would take 3,600 of these to make a US Dollar. The Japanese referred to these as "Benjo Kami," toilet paper.