Meghan Markle's Engagement Ring Inspires $40 Replica by Royal Collection — See How It Compares!

You don't have to marry a prince — or even have a royal bank account — to sport jewelry like Meghan Markle

You don’t have to marry a prince — or even have a royal bank account — to sport jewelry like Meghan Markle.

The Royal Collection has released a ring inspired by the three-stone diamond engagement sparkler that Prince Harry proposed with — and even designed himself!

The “Buckingham Palace Statement Ring” features three stones, a large one in the middle flanked by smaller ones on each side, just like Meghan’s. However, it doesn’t copy the yellow gold band, which Harry chose because it is her “favorite,” he said in their engagement interview.

The best news for Meghan fans? At just under $40, the replica ring is a super affordable way to add in some royal bling to any outfit.

Royal Collection
Royal Collection

Meghan’s ring was crafted by British jewelers Cleave and Company — who are the jewelers to Harry’s grandmother, Queen Elizabeth — and has plenty of sentimental connections for Harry.

Announcement Of <a href="" data-inlink="true">Prince Harry</a>'s Engagement To <a href="" data-inlink="true">Meghan Markle</a>
Chris Jackson/Getty; Inset: Shutterstock

“The ring . . . is obviously yellow gold because that’s what . . . her favorite and the main stone itself I sourced from Botswana and the . . . little diamonds either side are from my mother [Princess Diana]’s jewelry collection to make sure that she’s with us on . . . this crazy journey together,” Harry said during their engagement interview.

Meghan added, “It’s beautiful, and he designed it. It’s incredible.”

<a href="" data-inlink="true">Prince Harry</a> and <a href="" data-inlink="true">Meghan Markle</a> Engagement Photocall
Zak Hussein/Splash News

The Duchess of Sussex’s engagement ring isn’t the only piece of jewelry setting trends. She continued the 95-year-old tradition of having her wedding band made from rare Welsh gold, giving a boost to a family-owned business that specializes in creating jewelry from North Wales.

Royal wedding
Jonathan Brady/PA Wire; OWEN HUMPHREYS/AFP/Getty Images

At a time when the retail business has been hammered by pressures from online shopping and changes in lifestyle, Clogau has announced plans to open four new stores.

The expansion was already in the pipeline when Meghan married Prince Harry at St. George’s Chapel in May. But a spokeswoman for the company told PEOPLE that there is no doubt that recognition for Welsh gold has grown since Cleave and Company used the material, gifted to the couple by Queen Elizabeth, to make Meghan’s ring.

RELATED VIDEO: How Meghan Markle Has Mastered Palace Protocol—at Record Speed!

The tradition of using Welsh gold for royal wedding rings began in 1923, when Queen Elizabeth’s late mother, Elizabeth Bowes-Lyon, used gold from Clogau St. David’s mine in Bontddu, Gwynedd. It was created from a donation of a nugget of gold given to the royal family in 1923. Princess Diana also had Welsh gold in her wedding band, as did Kate Middleton and Camilla, Duchess of Cornwall.

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