The five-hundred-euro note (€500) is the highest-value euro banknote and was produced between the introduction of the euro (in its cash form) in 2002 until 2019. Since 27 April 2019, the banknote has no longer been issued by central banks in the euro area, but continues to be legal tender and can be used as a means of payment. It is one of the highest-value circulating banknotes in the world, worth around 525 USD; 3,600 CNY; 70,575 JPY; 492 CHF, 9,060,000 LAK or 441 GBP as of January 2023. The note is used in the 25 countries which have the euro as their sole currency, with a population of about 343 million. Initially, the high denomination notes were introduced very rapidly so that in the first 7 years (up to December 2008) there were 530million five-hundred-euro banknotes in circulation. Subsequently, the rate of increase was radically slowed. In December 2022, there were approximately 301 million banknotes in circulation (decreased from 614 million in 2015). It is the least widely circulated denomination, accounting for 1.0% of the total banknotes. It is the largest note measuring 160 × 82 mm and has a purple colour scheme. The five-hundred-euro banknotes depict bridges and arches/doorways in modern architecture (around the late 20th century). The five-hundred-euro note contains several complex security features such as watermarks, invisible ink, holograms and microprinting that make counterfeiting very difficult. The note is being phased out due to concerns of widespread use for illegal purposes. Most printing of new €500 notes ceased in 2019, although existing notes will remain legal tender until further notice. History The euro was founded on 1 January 1999, when it became the currency of over 300million people in Europe. For the first three years of its existence it was an invisible currency, only used in accountancy. Euro cash was not introduced until 1 January 2002, when it replaced the national banknotes and coins of the 12 initial eurozone countries, such as the Luxembourgish franc. Slovenia joined the Eurozone in 2007, Cyprus and Malta in 2008, Slovakia in 2009, Estonia in 2011, Latvia in 2014 and Lithuania joined on 1 January 2015. The changeover period The changeover period during which the former currencies' notes and coins were exchanged for those of the euro lasted about two months, going from 1 January 2002 until 28 February 2002. The official date on which the national currencies ceased to