• Kyodo

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Japan began issuing newly redesigned ¥500 coins for the first time in 21 years Monday.

The new coins do not differ substantially from the previous design but are minted in two colors and feature etchings on the inner rim as part of efforts to prevent counterfeiting.

While the Finance Ministry plans to mint 200 million of the new coins by the end of the fiscal year in March, the approximately 5 billion ¥500 coins currently in circulation will still be usable.

The government initially planned to release the new coins in the first half of fiscal 2021. But the rollout was postponed due to delayed updates to ticket machines at train stations and automated teller machines at banks due to the coronavirus pandemic.

Japan also plans to release new banknotes in 2024 for the first time in two decades.

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