500 Guaraníes value below building

Paraguay's shift to brass-plated steel for this denomination in the mid-1990s was a direct response to the chronic undervaluation of the guaraní, which had made the metal content of earlier coins approach or exceed their face value. The Central Bank had little choice — bimetallic and solid brass options were simply too expensive to strike at scale for a currency losing ground against the dollar year after year.

The plating on circulated examples is prone to edge chipping, exposing the steel core and accelerating corrosion in Paraguay's humid subtropical climate.