Do Not Remove Your Ignition!
DO NOT REMOVE YOUR IGNITION!
I did this and it was the biggest waste of time EVER. I called the best motorcycle locksmith in my area and he told me NOT to remove the ignition and to put everything back together (since I already had). THERE IS NO CODE YAMAHA USES ON IGNITIONS. Anyone who tells you there is doesn't know what they are talking about. The locksmith confirmed what 3 Yamaha dealerships already told me, that there is no code on the ignition! But, I went based on the info from others on this board and removed the ignition anyway to get the code on the bottom. Sure, there are 3 numbers there but they do not reveal anything about the ignition code!
The proper way to get a new key (if you don't have the original code that came with your new set of key) is:
1) Buy 3 blanks from Yamaha (3 b/c you never want to be in this position again!)
2) Call a locksmith
3) Wait forever for him to show
4) Drink a beer or two while you watch him properly make you a key by:
-a) Picking lock on gas tank
-b) Removing picked lock assembly
-c) Disassembling lock to get at the 4 pins inside (ignition requires 6)
-d) Plugs 4 pins from above into laptop computer
-e) Laptop computer spits out 3 possible ignition combinations
-f) Locksmith cuts first combo and tries in igniton
-g) If above starts bike, you have your 6 digit code, you pay the man and you're done. If not, the locksmith cuts the second code, etc.
This is the ONLY proper way to get a new key if you don't have your codes. Any other way risks damaging your ignition and other locks. I rather do it the right way, based on what the professionals say.
Costs:
Keys = $15 (3 @ $5/ea.)
Locksmith = $60
Total = $75 (with peace of mind of not having a damaged igniton)
Eric.