Costa Rica Withdraws Old ₡500 Coin from Circulation

San Jose, Costa Rica — Visitors to Costa Rica should note an important currency change this month. As of Tuesday, July 1, the gold-colored ₡500 coin is no longer accepted as legal tender in the country.

This means that the old coin can no longer be used for purchases in shops, restaurants, or other commercial establishments. However, the Central Bank of Costa Rica (BCCR) will still allow exchanges of the coin at authorized banks.

The move was announced back in January, giving the public a six-month grace period to adjust before the coin lost its validity. The withdrawal of the ₡500 coin is part of a broader effort to modernize the national monetary system.

In addition to the ₡500 coin, the old ₡50 coin has also been removed from circulation and replaced with newer versions. The updated coins are designed to be smaller, easier to handle, and made from materials that enhance durability while reducing production costs.

Both the new ₡500 and ₡50 coins are already in circulation and continue to be accepted as official currency. Later this month, tourists will also see new ₡100 coins celebrating Costa Rica’s intangible cultural heritage. These special edition coins feature six designs, highlighting local traditions such as Creole swing and traditional cimarrona music.

Furthermore, the new coins incorporate advanced alloys and engraving techniques aimed at enhancing security while balancing artistic design and anti-counterfeiting features.

Despite the change, travelers need not worry. Although businesses will not accept the old coins, they can be exchanged at Banco de Costa Rica. It is important to note that exchanges are only available on Wednesdays starting July 2, and non-customers may exchange coins up to a limit of ¢500,000.

For more information on location and hours, the Banco de Costa Rica’s official website has relevant details under the “Locate us” section. To avoid confusion, tourists are advised to closely check their change during their stay.