500 yen coin
Encyclopedia
The is the largest coin
denomination of the Japanese yen
. Depending on fluctuations in exchange rates it is often the highest valued regularly used coin in the world. As of October 28, 2011, it is valued at US$6.60. As of August 13, 2011, it is valued at €4.57, £4.00, C$6.43, CHF5.07, A$6.29 and NZ$7.83. As of August 13, 2011, the United Kingdom
's largest coin (£2 coin) is worth ¥250, the Swiss 5 franc coin is worth ¥493, and the Latvian 2 lati is worth ¥308.
n 500 won
coin could be easily modified to the exact weight of the ¥500 coin. As the ₩500 coin was roughly one-tenth the value of the ¥500 coin, these modified coins could be used at vending machines to produce a profit.
A new design was minted in 2000. Zinc
was added to give it a distinctive electrical conductivity, the weight was reduced 0.2 gram
s, and a latent image was added to the zeros on the obverse. When viewed at an angle, "500円" is printed vertically in each zero. When viewed at a different angle, a bar can be seen running down the inside of each zero. This bar is narrower than the "500円" text. Microprinting
reading "Nippon" is found on both the obverse and reverse of the coin.
Despite these anti-counterfeiting measures, the coin is still the target of counterfeiters in Japan.
Coin
A coin is a piece of hard material that is standardized in weight, is produced in large quantities in order to facilitate trade, and primarily can be used as a legal tender token for commerce in the designated country, region, or territory....
denomination of the Japanese yen
Japanese yen
The is the official currency of Japan. It is the third most traded currency in the foreign exchange market after the United States dollar and the euro. It is also widely used as a reserve currency after the U.S. dollar, the euro and the pound sterling...
. Depending on fluctuations in exchange rates it is often the highest valued regularly used coin in the world. As of October 28, 2011, it is valued at US$6.60. As of August 13, 2011, it is valued at €4.57, £4.00, C$6.43, CHF5.07, A$6.29 and NZ$7.83. As of August 13, 2011, the United Kingdom
United Kingdom
The United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...
's largest coin (£2 coin) is worth ¥250, the Swiss 5 franc coin is worth ¥493, and the Latvian 2 lati is worth ¥308.
History
The 500 yen coin was first minted in 1982 to replace the 500 yen note, which continued to be used alongside until April 1, 1994. Soon, it became the victim of counterfeiting, as the South KoreaSouth Korea
The Republic of Korea , , is a sovereign state in East Asia, located on the southern portion of the Korean Peninsula. It is neighbored by the People's Republic of China to the west, Japan to the east, North Korea to the north, and the East China Sea and Republic of China to the south...
n 500 won
South Korean won
The won is the currency of South Korea. A single won is divided into 100 jeon, the monetary subunit. The jeon is no longer used for everyday transactions, and appears only in foreign exchange rates...
coin could be easily modified to the exact weight of the ¥500 coin. As the ₩500 coin was roughly one-tenth the value of the ¥500 coin, these modified coins could be used at vending machines to produce a profit.
A new design was minted in 2000. Zinc
Zinc
Zinc , or spelter , is a metallic chemical element; it has the symbol Zn and atomic number 30. It is the first element in group 12 of the periodic table. Zinc is, in some respects, chemically similar to magnesium, because its ion is of similar size and its only common oxidation state is +2...
was added to give it a distinctive electrical conductivity, the weight was reduced 0.2 gram
Gram
The gram is a metric system unit of mass....
s, and a latent image was added to the zeros on the obverse. When viewed at an angle, "500円" is printed vertically in each zero. When viewed at a different angle, a bar can be seen running down the inside of each zero. This bar is narrower than the "500円" text. Microprinting
Microprinting
Microprinting is one of many anti-counterfeiting techniques used most often on currency and bank checks, as well as various other items of value. Microprinting involves printing very small text, usually too small to read with the naked eye, onto the note or item. Microprint is frequently hidden in...
reading "Nippon" is found on both the obverse and reverse of the coin.
Despite these anti-counterfeiting measures, the coin is still the target of counterfeiters in Japan.