The Royal Mint has produced its first payment card - which is made from solid gold.

The 18-carat hallmarked debit cards will be personalised for account holders "who value high-quality luxury items that make a statement".

People wanting to get their hands on one need to pay £18,750 for a card - and for bespoke and personalised designs the costs will be even higher.

They have been developed by the Mint in conjunction with Mastercard and payments technology firm Accomplish Financial.

The Mastercard cards, which are part of an account called Raris, will be personalised for customers, with their name and signature directly engraved into the precious metal.

Other than the £18,750 fee for the card, there are no other charges attached to the account and no special criteria account holders must meet, those behind it said.

(Image: PA)

As well as being hallmarked by the Goldsmiths' Company Assay Office, the cards also use source-traceable metals, certified under the Responsible Jewellery Council's Chain of Custody.

The Raris account benefits from zero foreign exchange or transaction fees.

As the gold cards are debit cards, customers cannot use them to borrow as the funds come straight out of their account when they spend.

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

Royal Mint chief executive Anne Jessopp said: "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.

"In association with Mastercard and Accomplish Financial, Raris - the first payment card manufactured by the Royal Mint - is a combination of over 1,100 years of Royal Mint craftsmanship with tomorrow's payment technology."

Mark Barnett, president, UK and Ireland at Mastercard, said: "This is a really exciting project, joining the outstanding heritage of the Royal Mint - 1,100 years of engineering and artistic expertise - and Mastercard's focus on payment innovation and security, together with our worldwide acceptance network.

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"Accomplish Financial ensures that the Raris card provides the perfect link between that heritage and the digital world."

Simon Bradley, head of partnerships at Accomplish Financial, said: "We are delighted to enhance our Raris account offering with the Royal Mint's first precious metal payment card."