Japan issues new 500-yen coins for 1st time in 21 years

By Tuba Sahin

ANKARA (AA) - The Bank of Japan (BoJ) on Monday is introducing new 500-yen coins ($4.4) in a bid to strengthen resistance against counterfeit coinage.

This is the first issuance of the coin in 21 years, according to the Japanese Kyodo News agency.

Previously, Japan's Finance Ministry had said it planned to issue 200 million of the new coins by the end of the 2021 fiscal year.

While the current 500-yen coins remain valid, the new ones have new specifications, including new materials and a two-color, three-layer structure.