Newly designed ¥500 coins put into circulation

The Yomiuri Shimbun
An employee of a financial institute checks sacks of new 500 yen coins at the Osaka branch of the Bank of Japan in Osaka City on Monday.

TOKYO (Jiji Press) — A newly designed ¥500 coin, made with the latest anti-counterfeiting technology, was put into circulation on Monday.

The new coin is the third generation of the country’s highest-valued circulating coin that was first issued in 1982. It is the first redesign for the coin in 21 years.

The Bank of Japan began paying out the newly minted coins to financial institutions in the morning.

The start dates of over-the-counter uses of the coin at commercial banks differ by institution, with major banks such as MUFG Bank expected to begin exchanges of money for the new coin on Thursday.

The new coin uses materials that achieve a bicolor structure. Special technology to boost the effect of preventing forgery is used for the coin’s serrated edges and fine letters.

A total of 200 million coins are expected to be issued in fiscal 2021.

The previous ¥500 coin will continue to be in circulation.