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{"id":14181,"date":"2021-04-19T02:05:16","date_gmt":"2021-04-19T02:05:16","guid":{"rendered":"https:\/\/felysjewelryandpawnshop.com\/?p=14181"},"modified":"2021-04-19T02:05:18","modified_gmt":"2021-04-19T02:05:18","slug":"are-diamonds-really-rare-diamond-myths-and-misconceptions","status":"publish","type":"post","link":"https:\/\/felysjewelryandpawnshop.com\/2021\/04\/19\/are-diamonds-really-rare-diamond-myths-and-misconceptions\/","title":{"rendered":"Are Diamonds Really Rare? Diamond Myths and Misconceptions"},"content":{"rendered":"\n

Source: https:\/\/www.gemsociety.org\/article\/are-diamonds-really-rare\/<\/span><\/p>\n\n\n\n

by\u00a0<\/strong>Seth I. Rosen<\/a><\/p>\n\n\n\n

Although\u00a0diamond<\/a>\u00a0is our most popular gemstone, this hasn\u2019t always been the case. Only in the last century did diamonds become readily available. Prior to that,\u00a0ruby<\/a>\u00a0and\u00a0sapphire<\/a>\u00a0were the most popular gems, especially for\u00a0engagement rings<\/a>.<\/p>\n\n\n\n

\"yellow
Yellow gold and diamond rings.\u00a0Photo<\/a>\u00a0by\u00a0Mauro Cateb<\/a>. Licensed under\u00a0CC By 2.0<\/a>.<\/figcaption><\/figure><\/div>\n\n\n\n

Diamonds and the De Beers Corporation<\/strong><\/h3>\n\n\n\n

Diamonds ascended in the public imagination primarily due to the\u00a0De Beers corporation<\/a>. They set up the first large-scale diamond mines in South Africa. Then, they began one of the most successful advertising campaigns in history, convincing consumers that engagement rings should always have a diamond.<\/p>\n\n\n\n

\"The
\u201cThe Big Hole,\u201d the Kimberley Diamond Mine Museum, South Africa.\u00a0Photo<\/a>\u00a0by\u00a0David Brossard<\/a>. Licensed under\u00a0CC By-SA 2.0<\/a>.<\/figcaption><\/figure><\/div>\n\n\n\n

Diamond Advertising Campaigns<\/strong><\/h4>\n\n\n\n

With proper encouragement, the movie industry displayed its most glamorous actresses, draped in diamonds. As a result, diamonds soon became a top status symbol for the rich and famous. This peaked perhaps with Marilyn Monroe\u2019s performance of the song, Diamonds are a Girl\u2019s Best Friend<\/em>, in the 1953 film, Gentlemen Prefer Blondes<\/em><\/a>.<\/p>\n\n\n\n

Even after winning the admiration of consumers, De Beers continued their advertising. With the discovery of diamonds in the (now former) Soviet Union, they created a new campaign to sell anniversary bands. These made good use of the small but nice-quality diamonds this find produced.<\/p>\n\n\n\n

Cornering the Market<\/strong><\/h4>\n\n\n\n

De Beers did wonderful things for the diamond industry. However, not everything about De Beers is nice. As diamonds were discovered in other parts of Africa and South America, De Beers gained control of the rough diamond supply. Allegedly, the tactics used to gain control included murder and kidnapping.<\/p>\n\n\n\n

De Beers maintained a monopolistic hold over the diamond market for several decades, controlling 75-85% of the diamond rough supply. They carefully released only enough rough diamonds to satisfy then-current demand, while continually adjusting the degree of rough diamond availability. Of course, this made prices escalate and reinforced the perception of diamond\u2019s rarity. De Beers actually mined considerably more rough diamonds than they sold. They maintained a large warehouse of uncut diamonds in London. As a result, they weren\u2019t allowed to do business in the United States and a few other countries.<\/p>\n\n\n\n

New Discoveries and Developments<\/strong><\/h4>\n\n\n\n

In the last two decades of the 20th<\/sup> century, things began to change.<\/p>\n\n\n\n

Satellite technology, originally designed to find likely oil reserves, also showed the geology likely to hold diamonds. As a result, new discoveries began to multiply. For example, Australia became one of the first developed nations to discover major diamond resources. De Beers made a deal with them to distribute all the rough, except for the very rare pink diamonds<\/a>. In 1996, Australia ended its arrangement with De Beers.<\/p>\n\n\n\n

De Beers also made a deal with the Soviet Union to distribute their rough diamonds. However, shortly after the Soviet breakup, the Russians let their contract expire and began to sell the diamonds themselves.<\/p>\n\n\n\n

In 1999, the De Beers London stockpile was valued at $5.2 billion, but they agreed to stop stockpiling diamonds in 2000<\/a>. In 2004, De Beers agreed to plead guilty to criminal price fixing before a U.S. federal court<\/a>. This allowed them to once again sell diamonds in the U.S. (In 2012, the U.S. Supreme Court refused to consider an appeal by De Beers<\/a> against a class action settlement regarding various unfair business practices).<\/p>\n\n\n\n

\"De
De Beers in Caesars Hotel, Las Vegas, July 2009.\u00a0Photo<\/a>\u00a0by\u00a0Michael Gray<\/a>. Licensed under\u00a0CC By-SA 2.0<\/a>.<\/figcaption><\/figure><\/div>\n\n\n\n

What Does the Future Hold?<\/strong><\/h4>\n\n\n\n

With explorations of several new sites, more diamond deposits will likely be found in the near future. De Beers still controls approximately 35-40% of the diamond rough supply<\/a>. So far, the other suppliers have been content to sell at the same prices as De Beers. However, if the law of supply and demand ever catches up to the diamond market, prices will likely drop considerably. What would happen next is difficult to tell. De Beers has a large inventory of uncut diamonds and holds an excellent position for a price war.<\/p>\n\n\n\n

\"two
Two round diamonds on a black background.\u00a0Photo<\/a>\u00a0by\u00a0Public Domain Photography<\/a>. Licensed under\u00a0CC By-SA 2.0<\/a>.<\/figcaption><\/figure><\/div>\n\n\n\n

Diamond Myths and Misconceptions<\/strong><\/h3>\n\n\n\n

Now that you know some of the history behind the rise of diamond\u2019s popularity, let\u2019s debunk some popular diamond myths.<\/p>\n\n\n\n

MYTH: Diamonds are Rare<\/strong><\/h4>\n\n\n\n

Diamonds are the hardest<\/a> material found on earth. They resist scratching better than anything else. Other than that, they hold no unique distinctions. All gem-quality materials are rare. They compose just a tiny fraction of the Earth. However, diamonds actually number among the most common gems. Ask yourself this: \u201cHow many people do you know who own at least one diamond?\u201d Now, ask this question about other gems, like rubies<\/a>, sapphires<\/a>, or emeralds<\/a>.<\/p>\n\n\n\n

While we have much to learn about the Earth\u2019s interior, our current knowledge of gem formation<\/a> indicates that diamonds are likely the most common gem in nature.<\/p>\n\n\n\n

Outside the confines of the Earth, diamonds are still common. A recent discovery indicates that some stars collapse on themselves, creating giant diamond crystals. In the constellation Centaurus, there lies a white dwarf that has crystallized into a diamond<\/a> about 2,500 miles in diameter and weighing 10 billion, trillion, trillion carats<\/a>.<\/p>\n\n\n\n

MYTH: Diamonds are the Most Valuable Gem<\/strong><\/h4>\n\n\n\n

You can\u2019t judge one gem species as the most valuable. To compare gem value<\/a>, you have to evaluate gems according to size and quality. The table below shows values for top quality gems of different sizes. However, please note that pure red rubies<\/a> are so rare there is no trade data available. The ruby prices listed are for Burmese rubies.<\/p>\n\n\n\n

Species<\/td>1 carat<\/td>1-5 carat<\/td>5+ carats<\/td><\/tr><\/thead>
Diamond<\/td>$4,300\/ct<\/td>$13,600\/ct<\/td>$44,500\/ct<\/td><\/tr>
Ruby<\/td>$5,050\/ct<\/td>$9,500\/ct<\/td>$100,000\/ct<\/td><\/tr>
Emerald<\/td>$5,470\/ct<\/td>$9,030\/ct<\/td>$23,000\/ct<\/td><\/tr>
Sapphire<\/td>$10,000\/ct<\/td>$16,000\/ct<\/td>$34,000\/ct<\/td><\/tr>
Alexandrite<\/a><\/td>$3,600\/ct<\/td>$15,000\/ct<\/td>$70,000\/ct<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

As you can see,\u00a0while costly, diamonds aren\u2019t the most expensive gem in any size. If you compare diamonds with gems based on other qualities, you\u2019ll get similar results. If you\u2019re looking to invest in gems, read our\u00a0introduction to gemstone investing<\/a>\u00a0and our article on\u00a0the inner workings of the gem trade<\/a>.<\/p>\n\n\n\n

\"diamond
Diamond ring.\u00a0Photo<\/a>\u00a0by\u00a0Deidre Woollard<\/a>. Licensed under\u00a0CC By 2.0<\/a>.<\/figcaption><\/figure><\/div>\n\n\n\n

MYTH: Diamonds are Precious Stones<\/strong><\/h4>\n\n\n\n

\u201cPrecious\u201d means valuable. In the 18th<\/sup>\u00a0century, a French jeweler began describing gems as either\u00a0precious or semiprecious stones<\/a>. While you\u2019ll find these categories still used in merchandising, professional gemologists frown upon these terms. This distinction has no real meaning. For example,\u00a0garnet<\/a>\u00a0gems traditionally fall into the semiprecious category. Nevertheless,\u00a0tsavorite garnets<\/a>, for example, have sold for as much as $10,000 per carat. That seems pretty \u201cprecious\u201d to me!<\/p>\n\n\n\n

\"tsavorite
2.21-ct tsavorite garnet<\/a>, elongated, cut-cornered\u00a0Barion<\/a>\u00a0triangle cut. \u00a9\u00a0Dan Stairs Custom Gemstones<\/a>. Used with permission.<\/figcaption><\/figure><\/div>\n\n\n\n

On the other hand, diamonds only have very high value in their better grades and medium to large sizes. You can find small, low-quality diamonds in quantity for just $1 a piece. On eBay<\/a>, you can find many diamonds under $20. These are far from precious.<\/p>\n\n\n\n

MYTH: Diamonds are the Most Brilliant Gemstone<\/strong><\/h4>\n\n\n\n

The faceting<\/a> and the refractive index<\/a> (RI) of a gem determine its brilliance<\/a>. That means how much light it reflects back to the viewer. Diamonds do have a very high RI of 2.41. If properly cut, diamonds have the potential for exceptional brilliance. However, that pales in comparison to rutile\u2019s<\/a> RI of 2.90. Not counting synthetics<\/a>, at least 8 minerals have a higher RI than diamond<\/a>.<\/p>\n\n\n\n

MYTH: A Person can Make a lot of Money Selling Diamonds<\/strong><\/h4>\n\n\n\n

Due to the proliferation of the Internet and the establishment of well-accepted diamond grading standards<\/a>, margins on cut diamonds have become extremely thin. Not infrequently, diamond dealers make gross margins inside of 5%. Compare that to virtually any other industry. You won\u2019t think selling diamonds makes a great business opportunity anymore.<\/p>\n\n\n\n

MYTH: Diamonds Have More \u201cFire\u201d Than any Other Gemstone<\/strong><\/h4>\n\n\n\n

Diamonds are known for their \u201cfire\u201d or\u00a0dispersion<\/a>. This refers to their ability to separate white light into the colors of the rainbow. In fact, diamond does have quite a high dispersion value of 0.044. However, that\u2019s a far cry from rutile, again, with a dispersion of 0.280. In fact, synthetic rutile stones, known as \u201cTitania,\u201d used to be sold as imitation diamonds. However, they showed too much dispersion to make passable diamonds!<\/p>\n\n\n\n

\"lithium
Another synthetic gem once popular as a diamond simulant, lithium niobate\u2019s dispersion of 0.13 also exceeds diamond\u2019s dispersion. Lithium niobate rounds, approximately 10 and 15 carats. \u00a9\u00a0Joel E. Arem<\/a>, PhD, FGA. Used with permission.<\/figcaption><\/figure><\/div>\n\n\n\n

What is a Diamond?<\/strong><\/h3>\n\n\n\n

Gemologically speaking, diamond is a mineral with a chemical formula of C (carbon) that crystallizes in the\u00a0isometric system<\/a>. By comparison, the mineral graphite also has the chemical formula of C. However, it crystallizes in the\u00a0hexagonal system<\/a>\u00a0and has very different properties.<\/p>\n\n\n\n

\"diamond
Diamond and graphite atomic structures.\u00a0Photo<\/a>\u00a0by\u00a0Ryan Somma<\/a>. Licensed under\u00a0CC By-SA 2.0<\/a>.<\/figcaption><\/figure><\/div>\n\n\n\n

As isometric crystals, diamonds have a single RI, so they don\u2019t show pleochroism<\/a> or birefringence<\/a>. They have a specific gravity or density<\/a> of 3.51 to 3.53, a bit more than average for gemstones. These properties can help distinguish real diamonds from some of their look-alikes<\/a>.<\/p>\n\n\n\n

As noted previously, diamonds have a hardness of 10, the highest of any material in nature. Scientists have created harder substances, but they\u2019re extremely brittle and have no practical use. (\u201cHardness\u201d is just one measure of a material\u2019s durability). If researchers ever find a harder substance that doesn\u2019t break down so quickly, it will greatly reduce the time needed to cut diamonds.<\/p>\n\n\n\n

While diamonds occur in nature, laboratories can also synthesize<\/a> them. Lab-made diamonds serve primarily as abrasives. However, they\u2019re quickly making their way into the jewelry industry. For more information, see our FAQ about lab-created diamonds<\/a> and article on identifying synthetic diamonds<\/a>.<\/p>\n\n\n\n

If you\u2019d like to learn more about gemology, start with this\u00a0introduction<\/a>.<\/p>\n\n\n\n

\"synthetic
\u201cDiamond Hoax,\u201d synthetic diamond.\u00a0Photo<\/a>\u00a0by Roman K\u00f6hler. Public domain.<\/figcaption><\/figure><\/div>\n","protected":false},"excerpt":{"rendered":"

Source: https:\/\/www.gemsociety.org\/article\/are-diamonds-really-rare\/ by\u00a0Seth I. Rosen Although\u00a0diamond\u00a0is our most popular gemstone, this hasn\u2019t always been the case. Only in the last century did diamonds become readily available. Prior to that,\u00a0ruby\u00a0and\u00a0sapphire\u00a0were the most popular gems, especially for\u00a0engagement rings. Diamonds and the De Beers Corporation Diamonds ascended in the public imagination primarily due to the\u00a0De Beers corporation. They […]<\/p>\n","protected":false},"author":2,"featured_media":14182,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"default","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"default","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[36],"tags":[],"class_list":["post-14181","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-tips-and-trivia"],"yoast_head":"\nAre Diamonds Really Rare? Diamond Myths and Misconceptions - Fely's Jewelry and Pawnshop<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/felysjewelryandpawnshop.com\/2021\/04\/19\/are-diamonds-really-rare-diamond-myths-and-misconceptions\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Are Diamonds Really Rare? Diamond Myths and Misconceptions - Fely's Jewelry and Pawnshop\" \/>\n<meta property=\"og:description\" content=\"Source: https:\/\/www.gemsociety.org\/article\/are-diamonds-really-rare\/ by\u00a0Seth I. Rosen Although\u00a0diamond\u00a0is our most popular gemstone, this hasn\u2019t always been the case. Only in the last century did diamonds become readily available. Prior to that,\u00a0ruby\u00a0and\u00a0sapphire\u00a0were the most popular gems, especially for\u00a0engagement rings. 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