500 Yen - Reiwa

Japan introduced a redesigned 500 yen coin in November 2021, the first major revision to the denomination in two decades. The update was driven almost entirely by counterfeiting concerns — the previous bimetallic design had become vulnerable to sophisticated fakes, particularly high-quality slugs produced in neighboring countries. The new coin incorporates three distinct anti-counterfeiting technologies simultaneously: a clad structure with two different metal compositions, microprinting along the edge, and a "bicolor clad" technique that creates a color-shifting effect visible at the joint between the ring and center.

The edge lettering alternates between two languages — Japanese and English — a first for any regular-issue Japanese coin.