The Diamond - A Brief History

Since the dawn of history, man has held the diamond in awe, surrounding it with revered mysticism.

Ancient man first put the hard stones to a practical use, shaping his tools and weapons with them. Then, because of their rarity and unique qualities, man came to believe that diamonds possessed supernatural powers. He used the gems in amulets to ward off evil spirits. The name diamond is, in fact, derived from the ancient Greek word "adarnas" meaning invincible or unconquerable.

As nomadic tribes in Africa and the Middle East expanded their trade with one another, these rare stones became a medium of exchange, the world's first hard currency.

Written history is filled with stories of monarchs who amassed fabulous treasures of diamonds, of powerful conquerors whose lust for these precious gems drove them to murder and mayhem, and of young lovers who kissed and shared the beauty of a tiny stone that symbolized their undying affection and eternal happiness.

Today, man still treasures these brilliant gems. Both the meaning of their value and their use has changed little. Diamonds are still used in critical applications, helping modern man shape his tools of technology. More than ever, they are used as symbols of beauty, tokens of love, and modern investment treasures.

What is a Diamond?

Diamonds are pure carbon—earth's most common element and the same material as fireplace soot or the graphite in a common lead pencil—formed into perfect crystal patterns. They were formed eons ago under incredible heat and pressure deep in the earth. Great volcanic upheavals millions of years ago forced the "blue earth" containing diamonds to the surface where they were scattered along rivers and into the oceans.

Only about one-fifth of all mined diamonds could be considered of gem quality. From 40 to 250 tons of gravel and sand must be processed today to recover one rough diamond from the world's thinning diamond deposits. Experts estimate that all known supplies of diamonds will be depleted within 30 to 40 years.

Most diamonds, some 75-80% of all those mined, are used for such industrial applications as drilling, grinding, or sawing. The remainder are used for jewelry or investment. Less than 2% are of such high quality that they may be considered investment quality.
When the mining operation is completed, sorters look at rough diamonds, separating them into small piles by shape, size, and quality, a long and laborious process.

Importance of the 4 C’s in Diamond Quality  

Cut

Of all the 4 Cs, cut has the greatest effect on a diamond's beauty.  In grading, cut evaluates the cutters skill in the fashioning of the diamond. Diamonds have a unique ability to manipulate light efficiently. This unique ability can be released and maximized only by cutting and polishing the diamond to an extremely high level of accuracy. This also requires that the cutters be willing to put forth a great deal of time and effort, adhere to some very strict geometric standards and, most important, be willing to sacrifice carat weight for superior craftsmanship. The American Gem Society Cut Grading System considers not only the proportions of a diamond, but also the craftsmanship of its overall symmetry and polish. It is unique in that it uses the latest in technology to analyze the cut’s impact on the diamond’s light performance.

Shape

Of course, the most popular and commonly seen shape for diamonds is the round or brilliant cut, which has 57 or 58 facets (depending on whether the culet, or point at the bottom of the stone, is faceted or not). It's the 'classic' shape that most people think of when they think of a diamond. But the round cut is by far not your only choice. All shapes are capable of fantastic fire and brilliance. The only difference is the result of the diamond cutter's decision to cut the rough diamond into that particular shape.

 

Color

A truly colorless diamond is extremely rare.  Most diamonds possess varying degrees of yellow or brown and small, subtle differences in color can make a substantial difference in value. Although increasing shades of yellow can reduce the value of a diamond this does not necessarily reduce its beauty. If a diamond is well cut, the diamond's refraction and dispersion often will disguise certain degrees of coloration. Unless a diamond is a fancy color (or any color other than colorless to light yellow or brown), the American Gem Society Color Grading System places it on a 0 to 10 scale, 0 being colorless. To accurately and consistently grade color, an American Gem Society trained grader will utilize special lighting to compare the diamond being graded to a set of American Gem Society Master Color Comparison Diamonds, which have met exacting standards of cut, color, clarity, and carat weight. The diamond is viewed face down and reassessed face-up for the most accurate and consistent grade.

Clarity

Clarity is the evaluation of a diamond's internal and external characteristics. The fewer inclusions or blemishes, the more desirable the diamond will be. Inclusions are internal, that is, inside the diamond. Two of the most common inclusions are crystals and feathers. Crystals are merely minerals trapped inside the diamond; feathers are breaks in the diamond. Blemishes are usually very small and are only on the surface of diamonds. To locate these tiny characteristics, an American Gem Society member jeweler will use a binocular microscope that magnifies the diamond ten times. Then, evaluating the size, location, nature, number, and color of all the inclusions and blemishes, a clarity grade from 0-10 is assigned.  Zero represents a diamond that is free of any inclusion or blemish when examined by a skilled grader under 10x magnification and proper lighting. 

GRADE	DESCRIPTION
F	Flawless. The diamond shows no inclusions or blemishes of any sort under 10X magnification when observed by an experienced grader. Note: Truly flawless or internally flawless (F or IF on the GIA's grading scale) diamonds are extremely rare.
IF	Internally Flawless. The diamond has no inclusions when examined by an experienced grader using 10X magnification, but will have some minor blemishes.
VVS1, VVS2	Very, Very slightly included. The diamond contains minute inclusions that are difficult even for experienced graders to see under 10X magnification.
VS1, VS2	Very slightly included. The diamond contains minute inclusions such as small crystals, clouds or feathers when observed with effort under 10X magnification.
SI1, SI2	Slightly included. Inclusions are obvious under 10x magnification and may or may not be visible to the naked eye. However, when set in jewelry, the inclusions may become less visible.
I1, I2, I3	Included. Inclusions are obvious under 10x magnification and are usually visible to the naked eye. This quality allows for a larger diamond to be purchased at a lower price.

Carat Weight

Comparing the value of stones by weight is like comparing the value of paintings by size. A wall-sized canvas by an unskilled artist may be bigger than a miniature by Rembrandt, but it will not be worth more. The standard used to measure diamond weight is the carat.  A carat equals 1/5 of a gram (or 1/142 of an ounce).  Each carat is further divided into points, each point representing 1/100th of a carat. While weight may be the least important of the four Cs in determining value, it may be the easiest of the four Cs to gauge accurately and is the most objective. All that is required is a delicately balanced scale capable of weighting extremely small weights. Yet, despite the ease of measurement and the relative unimportance of diamond weight, there are some facts you should understand about weight and price.

First, as diamonds increase in size, their cost tends to increase geometrically rather than arithmetically. Thus, a one-carat diamond may cost more than twice as much as a one-half carat stone of equal quality. Also, as previously stated, weight does not always enhance the value of a diamond. In fact, when a stone is improperly cut, added weight may serve only to reduce its brilliance. For these reasons, you should consult with an American Gem Society titleholder or individual regarding the question of carat weight, especially as it relates to the quality of the diamond's cut.

Color and clarity diagrams courtesy of the Gemological Institute of America and the American Gem Society.