A New Generation of Japanese Banknotes

^{Image Source: Bank of Japan}

Japan has been using paper money since the Meiji Period, when the ruling samurai class was overthrown and a new government took over in the late 1800s, and throughout the decades the banknotes have gotten quite a few makeovers. In modern times, Japan has been releasing new banknotes every 20 years or so, to keep up with technological progress and contemporary security needs. As counterfeiting methods get more and more sophisticated, the Bank of Japan must respond in kind, so each new edition of the banknotes has added security measures along with conveniences to help with circulation.

The last large-scale release of new banknotes happened in 2004, adding a suite of cutting-edge (for the time) anti-counterfeiting design additions. After a full two decades, it’s time for an update, and the new bills are finally here: newly designed, extra-secure, and still satisfyingly pristine.

The New 2024 Yen Designs

^{Image Source: Bank of Japan}

All three of Japan’s commonly circulated paper money denominations (1,000 yen, 5,000 yen, 10,000 yen) are getting a brand new look, which includes totally new designs and new faces on each bill, along with complex security additions like holographic strips, watermarks, and special fluorescent printing. Here’s what to look out for on each new banknote:

The New 1,000 Yen

^{Image Source: Bank of Japan}

It’s time to say goodbye to the old 1,000 yen banknote, which featured prominent scientist (and discoverer of the bacteria behind syphilis) Hideyo Noguchi. In his place you’ll now find his colleague, fellow bacteriologist and Nobel Prize nominee Kitasato Shibasaburo. The reverse features what is probably the most globally renowned work of art to come from Japan, “The Great Wave off Kanagawa” by Katsushika Hokusai, an iconic ukiyo-e print from his collection of “Thirty-Six Views of Mount Fuji.”

The New 5,000 Yen

^{Image Source: Bank of Japan}

Japan’s 5,000 yen note is the territory of woman intellectuals from the Meiji era: formerly the poet and writer Ichiyo Higuchi, and now the pioneer of women’s education Tsuda Umeko (Japan’s first female international exchange student and founder of Tsuda University)! On the back you’ll find an illustration of the Japanese wisteria, a spring flower that hasn’t quite earned the international fame of the classic cherry blossom, but is actually rather beloved in Japan.

The New 10,000 Yen

^{Image Source: Bank of Japan}

The former face of Japan’s 10,000 yen bill was the samurai and Rennaisance man Fukuzawa Yukichi, but since 10,000 yen is Japan’s largest denomination, perhaps it’s only logical that the new banknote features the “father of Japanese capitalism,” industrialist Shibusawa Eiichi. Shibusawa even worked to introduce the modern system of modern note-issuing banks to Japan! The other side of the bill features another icon of the same era: the distinctive red-brick Marunouchi building of Tokyo Station, designed by Tatsuno Kingo.

Using Japan’s New Yen: A Quick FAQ for the New Banknotes

^{Image Source: The Mainichi}

▶︎ I have a whole wallet full of old Japanese yen, can I still use the old banknotes!?
　 Yes, the new banknotes are set to slowly replace the old ones over the course of a few years, so you can keep using your old yen without any worries. The Bank of Japan is actually always replacing old, dirty, shredded banknotes with fresh ones over time, so all they have to do is start replacing the old banknotes with the new design! In fact, the old banknotes will always be legal tender. Even if you hold onto your old banknotes for years and years, the money will never “expire,” so don’t fall for any scams saying your old banknotes are no good anymore!

▶︎ Where do I get the new banknotes?
　 You don’t have to do anything in particular to make sure you get the new banknotes, but the 2024 designs will be gradually distributed through banks and ATMs around Japan. If you withdraw money in early July, you’ll probably still get a mix of old and new bills. They both work the same, so you can use whatever you get!

▶︎ But I want to see the pretty new yen now! How do I make sure I get the new banknotes!?
　 If you’re a collector, you like clean new bills, or you’re just crazy for the new designs, you can specifically make an appointment with the Bank of Japan. They may only agree to exchange banknotes that are damaged, however, and don’t forget that deliberately damaging currency is generally illegal. So if you’re specifically after new banknotes and new banknotes only, it might be a challenge. But remember, if you’re planning to spend them anyway, the old banknotes are still perfectly good!

▶︎ Can I use the new Japanese yen everywhere, in all situations?
　 The government has been planning the new banknote designs for years, and the plans have been released to the public for quite a while now, so you shouldn’t have much trouble using the new designs. Most institutions have been prepared for a long time now! However, it’s possible that some automated machines may not accept the new bills at first, especially older models that need to be upgraded. The Bank of Japan’s new 500 yen coins issued in 2021 caused a bit of an uproar when it turned out that automated vending machine security features couldn’t recognize the value of the new 500 yen coins. Hopefully the vending machine industry has learned its lesson since! If you have any trouble using the money in machines, just ask the nearest staff for help!

Welcoming an Era of New Art and Technology

^{Image Source: Bank of Japan}

In the grand scheme of things, the new designs for Japan’s paper money won’t make a big difference for most people living in Japan or visiting the country. It’s just a change in design, after all – it’s still the same old Japanese yen. For travelers, the weak yen and the resulting crazy exchange rates are probably a much bigger deal! But for the Bank of Japan, the new 2024 banknotes are the product of years of improvements, including both anti-counterfeiting security features and traditional designs. So use up your old bills if you need to, and when you finally get your hands on the new Japanese banknotes, make sure to give them a good look so you can really appreciate how the designs have changed. The new features look cool, and they’re there to keep you safe from fakes, too!

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