The UK’s Royal Mint has unveiled a payment card that is produced entirely from 18-karat gold and comes with “no spending limit”.

Dubbed “the world’s first hallmarked precious metals payment card”, the new Raris debit card is part of a growing trend in ultra-premium card formats.

Swiss jeweller Armillion, for instance, recently unveiled a contactless payment bracelet that is decorated with 252 cut diamonds, costs more than £60,000 (US$75,800) and can be used for purchases of up to £1m ($1.26m).

Launched in association with Mastercard and Accomplish Financial, Raris is designed “for individuals who wish to access the exclusive benefits of a Raris account and for those who value high quality luxury items that make a statement,” the government-owned Royal Mint says.

“The prestigious 18-karat gold Raris card is personalised for each Raris account holder, with their name and signature directly engraved into the precious metal.”

The card includes a payment chip but no contactless logo and will cost £18,750 ($23,684).

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