A new 500-yen coin with different materials to prevent counterfeiting was issued on the 1st for the first time in 21 years.
The size and basic design of the new coin are not much different from the previous 500-yen coin, but to prevent counterfeiting, three types of metals such as nickel are used, and the center is silver and the outside is surrounded by a gold ring. In addition, it has become more complicated, such as changing the width and shape of some of the side grooves that were previously carved at equal intervals.
The new coins will be used for payments from the Bank of Japan to financial institutions from the 1st, and will be distributed to the general public in the future.
Initially, it was scheduled to be issued by around September, but the issue was delayed due to the delay in repair work such as ATMs at banks due to the influence of the new coronavirus.
The new 500-yen coin has been issued for the first time in 21 years since 2000, and 200 million coins are scheduled to be issued within this year.
It is estimated that about 5 billion yen coins have been distributed so far, but they can continue to be used even after the issuance of new coins.
According to the Treasury, industry groups have reported that ATMs and railroad ticket machines have largely been refurbished to accommodate new coins.