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UK Royal Mint launches payment card of pure gold

By Ramla Soni

Card offers limitless spending and no foreign exchange and transaction fees

UK Royal Mint launches payment card of pure gold

The Royal Mint has launched its first “solid gold” payment card, the UK coin exporter announced. The production is in association with Mastercard and Accomplish Financial, the payments technology firm.

Made from 18-carat gold, the card is designed for those who want the benefits of a special account and who value “high-quality luxury items that make a statement”.

Raris account holders will have limitless spending, zero foreign exchange and zero transaction fees. They will also have an app to keep track of the account at any time.

The Raris card can be personalised with the holder’s name and signature engraved into the metal. Any other details on the card will cost extra.

As part of the Mastercard World Elite package, additional features include a dedicated concierge service and other travel benefits.

The card is said to cost £18,750 ($23,460).

The Royal Mint is also looking to launch its first product listed on a stock exchange. This will be a gold-backed exchange-traded commodity (ETC), ready for early 2020. The ETC would be listed on the UK, Italian and German stock markets.

The Royal Mint exports mint, making coins and medals for an average of 60 countries every year. However, its first responsibility is to make and distribute UK coins as well as to supply blanks (plain discs) and official medals.

It can produce 90 million coins and blanks a week (almost five billion coins a year), the company says.

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