Euro banknotes are designed to represent European unity, with their designs symbolizing openness and cooperation. The first series, introduced in 2002, included seven denominations, ranging from €5 to the highest value €500 Euro Bill.
The First Series and the Prominent 500 Euro Note
The initial series of euro banknotes, launched with the euro itself, featured the €500 note alongside denominations like €5, €10, €20, €50, €100, and €200. These banknotes are progressively being replaced by the Europa series, leading to fewer sightings of the first series in general circulation. However, it’s important to note that these first series banknotes, including the 500 euro bill, remain legal tender. They hold their value indefinitely and will continue to be used alongside the newer Europa series until existing supplies diminish.
The Europa Series and the Discontinuation of the 500 Euro Bill
The second series, known as the Europa series, was developed with enhanced security features to combat counterfeiting and improve durability. This upgrade aims to reduce the frequency of banknote replacement, benefiting the environment and minimizing costs. Named after Europa, a figure from Greek mythology, her portrait is integrated into the security features, creating a visual link to Europe and adding a human element to the currency.
The Europa series includes six denominations: €5, €10, €20, €50, €100, and €200, introduced gradually from 2013, completing in May 2019 with the €100 and €200 notes. Notably, the 500 euro banknote was deliberately excluded from the Europa series. Production of the 500 euro bill ceased on April 27, 2019.
500 Euro Bill: Still Legal Tender and Exchangeable
Despite not being part of the Europa series and no longer being issued, the 500 euro bill remains legal tender within the Eurozone. Like all euro banknotes, the 500 euro note retains its full value. Holders of 500 euro bills can exchange them at any national central bank within the euro area at any time. This ensures that while you may not see the 500 euro note in everyday transactions, its value is guaranteed by the European Central Bank.
