On 4 May 2016, the Governing Council of the European Central Bank (ECB) decided to permanently stop producing the €500 banknote and to exclude it from the Europa series. The end of the note takes into account “concerns that this banknote could facilitate illicit activities” said the ECB in a press release.
The issuance of €500 will be stopped around the end of 2018, when the €100 and €200 banknotes of the Europa series are planned to be introduced. The other denominations – from €5 to €200 – will remain in place.
In view of the international role of the euro and the widespread trust in its banknotes, the €500 will remain legal tender and can therefore continue to be used as a means of payment and store of value.
The €500 banknote, like the other denominations of euro banknotes, will always retain its value and can be exchanged at the national central banks of the Eurosystem for an unlimited period of time.