 While the production of 500 yen notes continued until 1984, all of the notes issued were officially withdrawn from circulation in 1994.Five hundred yen notes were allowed to retain their legal tender status, but they are now worth more on the collector's market than at face value.The first series of 500 yen notes (called "series A") were released in 1946 to control inflation which had been caused by the aftermath of World War II.