Money during the Korean War - 1950-52

3. Military Payment Certificate - 25 Cents

This is the money that is given to military personnel for their pay. It legally can only be held by military personnel and it is for use in military establishments. This money did fall into the hands of civilians. On occasion with only 24 hours notice they would call for an exchange of this money for different colored 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. They would come to you and ask you to exchange money for them. If you did you better have a good reason you have that much money. For us we never saw a PX to spend this money. Much of the low denominations like this went home for souvenirs.