The 500 Euros banknote

From putting them into circulation int he year 2002, the denominations of the banknotes in euros have been of 5, 10, 20, 50, 100, 200 and 500 Euros. However from a time ago there is a speculation about the possibility of removing of the circulation the banknote with the higest value, the 500  Euros banknote.

The main reason to remove the 500 Euros note is that it is considered that its use is criminal, that is, it is used to whiten the money and  to finance the terrorism. For this reason there were those who thought that should be removed immediately and replaced by banknotes of 100 and 200 Euros and there were those who believed that the change must be more progressive.

 

The end of the  500 Euros banknotes

The European Central Bank announced last May that the new Europa serie will not have 500 Euros banknotes. From this serie it will be manufactured the rest of denominations: 5, 10, 20, 50, 100 and 200.

The new banknotes of 100 and 200 will be issued at the end of 2018 and in that moment they will cease to issue  500 banknotes of today.

Although they cease to issue, the current 500 Euros notes will remain legal tender for an unlimited period like the rest of denominations of the first series of Euros.