 The 500 yen bill was phased out in 1984 in favor of the new coins, co-circulation continued until 1994 when the bills were withdrawn from circulation.Towards the end of Emperor Shōwa's (Hirohito's) reign mintage figures fell for the 500 yen coin.An all time low came when only 2,775,000 coins were minted in 1987 (year 62).