Britain's Royal Mint just took the concept of a "gold card" to a whole new level with the unveiling of the first-ever payment card made from 18-karat gold.
Developed in association with Mastercard and Accomplish Financial, the solid gold Raris card offers limitless spending, zero foreign exchange and no transaction fees. It also carries a $23,000 price tag.
Each Raris card is personalized with the name and signature of the accountholder engraved right into the precious metal. The card is fully customizable. Additional graphics may be added to the front and back of the card — for an additional fee.
The Royal Mint, which has produced coinage in England for more than 1,100 years, is targeting the premium product to the elite consumer who values high-quality luxury items and wants to make a statement.
Because the Raris card is part of the Mastercard World Elite package, cardholders will have access to a dedicated concierge service and other travel benefits.
In addition to being the world’s first precious metal payment card to be hallmarked by the Goldsmiths’ Company Assay Office, Raris is also the first payment card in the world to use source-traceable metals and to be certified under the Responsible Jewellery Council’s Chain of Custody.
"The Royal Mint is constantly innovating, and as the UK’s leading precious metals solutions provider, we are hugely excited to launch the solid gold Raris card in acknowledgement of growing consumer demands for unique and luxury payments cards," noted Anne Jessopp, CEO at The Royal Mint.
CNN reported that the Royal Mint's initial run will consist of 50 Raris cards with the same design. New card designs and additional runs will follow as the product gains traction.
When CNN asked Mastercard spokesman James Thorpe why anyone might want to invest in an 18-karat gold payment card, he said, "If you want something that is unique in this world, there are very few things. But this is a remarkable and valuable product."
Credit: Image courtesy of The Royal Mint.