Diamonds

Shirley Bassey wasn’t  joking when she sung ‘Diamonds are a Girl’s Best Friend’ .

Known throughout history and the world as the premier Precious Gemstone, the Diamond has been a source of wonder, wealth and sadly bloodshed, for centuries.

Diamonds are thought to have been first recognized and mined in India,  many centuries ago along the rivers Penner, Krishna and Godavari.

Diamonds have been known in India for at least 3,000 years but most likely 6,000 years and have been treasured as Gemstones since their use as religious icons in ancient India.

Their usage in engraving tools also dates to early human history. The popularity of diamonds has risen since the 19th century because of increased supply, improved cutting and polishing techniques, growth in the world economy, and innovative and successful advertising campaigns.

Diamond size is measured in carats which is a measurement of their weight. Approximately 130 million carats  (57,000 lb) of diamonds are mined annually with a total value of nearly US$9 billion. (Did you know that nearly 4 times this amount are produced synthetically each year?)

Roughly 49% of diamonds originate from central and southern Africa, although significant sources of the mineral have been discovered in Canada, India, Russia, Brazil, and Australia.

One hallmark of the trade in Gem-quality diamonds is its remarkable concentration with wholesale trade and diamond cutting limited to just a few locations.

In 2003, 92% of the world’s diamonds were cut and polished in Surat, India. Other important centers of diamond cutting and trading are Antwerp, London, New York City, Tel Aviv, and Amsterdam.

A single company, De Beers, controls a significant proportion of the trade in diamonds. They are based in Johannesburg, South Africa and London, England.

Some of the most famous diamonds in the world are now either in Royal or Museum collections, notably the Smithsonian and include The Blue Heart Diamond, a 30.82-carat brilliant Heart Cut Diamond and one of my favorite stories also in their collection is The De Young Red Diamond, weighing 5.03 carats, the third-largest known red diamond, was bought in a flea market on a hatpin by Sidney de Young a prominent Boston estate jewelry merchant. It was donated by him to the Smithsonian.