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 Korean 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 grams, 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.
Read more about this topic: 500 Yen Coin
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