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Rough diamonds have been
highly prized by humans throughout all recorded history
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According to legend, the owner of the
Koh-I-Noor will rule the world
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Perhaps the world's most
famous stone, the Hope Diamond now rests in the Smithsonian
for all to see
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De Beers, a privately held company, controls most
of the world's diamond supply
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Background
Diamond—king of all precious
gem stones—has captured man’s attention and imagination
for thousands of years. From the earliest recorded history,
diamonds have been one of the earth’s greatest and most
sought after treasures. The first diamond mines—located
in the Golconda province of India—date to the eighth
century B.C. In the centuries before Christ, diamonds were
valued for their strength as well as for their supposed power
as a magical protector against snakes, fire, poison, illness,
thieves and all the other assorted forces of evil. The early
Christians believed that diamonds protected one from moral
and physical evil. Ancient writings show that the exportation
of diamonds to Rome and Arabia was common by one hundred B.C.
The name diamond is derived form the Greek
word “Adamas” which can be variously translated
into uncontrollable, indestructible, untamable, invincible,
and unconquerable—all of which are fitting appellations
for one of the world’s most enigmatic possessions. Romans
were fascinated by the stone’s rarity, hardness, colorlessness,
and fire-resistance. Diamonds were considered real property
and the wealthier Romans passed them along to their heirs—we
should thus thank the members of the early republic for giving
those of us now living the first family heirlooms.
In the Dark and Middle Ages, diamonds adorned
suits of armor worn by great Knights as well as the crowns
of kings and queens. The diamond’s allure was further
strengthened when, in the late 15th century, Lode Van Berckman
from Bruges, Antwerp originated the first cutting techniques
and was able to unleash the fire and brilliance possessed
by no other stone. By the 1500s, it was commonly said that
a diamond enhanced the love of a husband for his wife. And
suddenly the modern diamond industry was begun. |
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Famous Diamonds
The earliest known important diamond is the Koh-I-Noor
from India and dates to 1304. The oval shaped stone set
in Queen Elizabeth II’s crown can now be found with
the rest of the Crown Jewels safeguarded in the historic
Tower of London.
The world’s most important diamond, discovered by
tradesman Jean Baptiste Tavenier in the early 1600s, was,
like most famous diamonds, discovered in India and pulled
from the Kollur mine. The original diamond was said to have
originally weighed a gargantuan 112.25 carats. Tavenier
then sold what was to become the world’s most famous
and storied diamond to King Louis XIV for 3,000,000 British
Pounds in the year 1669. Re-cut to 67.50 carats and named
the Blue Crown Diamond, it was stolen in the “Garde
Meuble” theft of 1792 and lost to history for almost
50 years. This historic stone next reappeared in Belgium
in 1830. Mysteriously then weighing less than half its original
weight at only 44.50 carats, it was purchased by Henry Thomas
Hope—the stone was said to have been cut to this weight
while leaving the sister stone, the Blue Brunswick, 13.75
carats and the exact same ultra rare color of sapphire blue.In
1851, the Hope Diamond, as it is now known, was displayed
in London at the World Exhibition in Hyde Park’s Crystal
Palace. The diamond then found its way into the hands of
the Duke of Newcastle who, interestingly, was required by
virtue of a clause in the stone’s testament of ownership
transfer to assume the name “Hope.”
The Hope diamond was later purchased by New York Jeweler
Jos Frankel to pay off all the Duke’s debts. In 1908,
Frankel too was ruined by economic crisis and the diamond
was sold in Paris for $4,000,000 to the bloodthirsty sultan
Abdul Hamid II. Hamid was known as the “Red Sultan”
for his brutal and cruel rule of the Ottoman Empire. Abdul’s
brother Mehmet V helped add to the stone’s terrible
history of death and failure by blaming the fall of the
Ottoman Empire on the Red Sultan and ordering his abduction
and murder. Now considered cursed, the Hope was sold to
American billionaire Ed. B. Mac Lean of Washington for the
paltry sum of $154,000 dollars. Mac Lean found the stone
to be as unlucky for him as it was for its previous owners
when he was lost to the sea aboard the Titanic in 1923.
In 1947, famous jeweler Harry Winston purchased the cursed
diamond for $180,000 dollars. Mr. Winston then wisely donated
the Hope Diamond to the Smithsonian Institute a decade later
where you can still view the stone today—if you dare.
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The Industry Today
The modern diamond trade is controlled by De Beers Consolidated
Mines, incorporated in 1888, and who, via considerable manipulation
and questionable ethics, acquired the world’s most
important diamond mine, the Kimberly central, for $5,338,650
British Pounds. This famous check still hangs framed on
the De Beers boardroom wall in Kimberly South Africa. De
Beers currently controls most of the world’s diamond
production and is considered by the United States government
to be a monopoly with many indictments awaiting its key
personnel should they ever visit America. Regardless, this
control has shaped the current diamond world market, holding
firm both prices and availability. Diamonds are now mined
on most continents with important mines located in Canada,
Russia, Australia and many in South America. The world’s
major cutting centers are located in India, Israel, New
York and Antwerp. More major or large stones are cut in
New York than any place in the world, but, due to the increased
labor costs, it is economically infeasible to cut smaller
stones in the US.
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