Only the last two have a known design which feature Iwakura Tomomi on the obverse, and Mount Fuji on the reverse.
Starting in 1982, new 500 yen coins began to be minted which eventually replaced their paper counterparts.
Five hundred yen notes were allowed to retain their legal tender status, but they are now worth more on the collector's market in numismatic value than they are at their face value.
This time these new notes appeared to have been more successful, as they were issued for almost 20 years until finally being withdrawn on January 4, 1971.
The issue came to an end on April 1, 1994 when 500 yen notes were withdrawn from circulation.