They've got tons of sentimental value.
So does my grandpa's Mauser. My future fiance better be the sort to accept an engagement pistol, or things ain't gonna work out.
A lot of people are moving away from diamonds--same with huge weddings. When you can put the equivalent finances towards a house or car, it stops making sense really quickly.
Hmmmm..... not exactly true. Nothing has “intrinsic value” except that which we give it. Things like water that are necessities of survival generally hold an absolute value- but except where water is scarce it isn’t tested particularly precious. But diamonds are 90% marketing and a campaign of advertising and terror by huge cartels who’s owners are or were criminals who couldn’t set foot on US soil without being arrested.
Diamonds are HARD, not tough. The idea of diamonds being somehow near indestructible- diamond armors etc- not so much. Think of glass. You can’t really scratch glass easily with a fingernail. It’s pretty hard. But- you can shatter it with your hand with a strike. Diamonds are like thy. Hit one with a hammer and it shatters like glass. Now- diamonds also have a shear plane. That means you don’t even have to hit it with a hammer. Bumping a hand with a diamond ring on the corner of a desk as you pass could cause it to break if you hit it on the sheer plane.
The hardness of diamonds is why they are often used in tools and the like. Diamond drill tips and saw blades and such. The hard diamond material is well suited for cutting where it doesn’t see impacts. And that’s another reasons diamonds aren’t worthless exactly. They have many industrial and finishing applications. A diamond cutting tool is great for precision and it’s hardness mean it can etch or cure many materials that would be thought to cut or your couldn’t get detailed engravings with many other materials.
Diamonds can be used in electronics due to their properties as a crystal as well as their heat resistance etc- and they have optical properties which can be used for things like lasers and other emitters, lenses, and sensors. Of course- many other materials, especially synthetic materials and synthetic diamonds can do all this as well or better- and you don’t need “jewelry” quality stones for things like a diamond saw tip.
Diamonds are mined in HUGE amounts. That is true. But only roughly 20-30% of stones are “jewelry grade.” The rest have imperfections in color, impurities, or are far to small for practical use in jewelry. These are used for industrial and other purposes. Now- a lab can create a better diamond than nature. Effectively no impurities, crystal clear color- a stone that’s as rare as unicorn farts in nature can be made by a lab because the conditions and materials can be strictly controlled. In fact- the one way they can tell a high grade lab diamond from a natural diamond is that it is too perfect.
That’s part of the hustle they use. Lab diamonds are required to bear a laser tag that’s basically naked to the human eye but tells anyone with a scope that it’s a lab diamond. Ironically the fact that it is exactly the kind of stone most prized makes it worth less than a natural stone of lower quality- simply because high quality natural stones are rare whereas a high quality on stone can be made on command.
One of a diamonds most prized qualities though is its sparkle. A diamond is pretty much transparent. The closer to “perfect” it is the more this is true. A VERY nice diamond can be sunk in a glass of water and will disappear. The cut a diamond is given, that “gem shape” effects how it refracts light. Like a prism the diamond splits light aiming into it and then sparkles on the colors of the light it broke up. This is part of the “magic” where you have a clear stone, but colored light. Impressive stuff if you don’t understand science but still best if you do.
The optical properties of a diamond are what make it prized for jewelry. The way it “plays with” light. But.... diamonds aren’t even great at that. Cubic zirconia (CZ) is even better at it, as are several other stones. CZ has some issues. It isn’t as hard as diamond so it can get scratched. Some stones can discolor, are chemical or light sensitive, etc etc. but there are several stones that offer all the theoretical benefits in jewelry as diamond with similar or better looks- but don’t have the status because, marketing.
In fact- many “less fancy” stones are far rarer, especially in high quality stones in nature. Sapphire and emerald are two; with sapphire being a common stone of royalty because of its scarcity compared to diamonds. Sapphires also one of the next hardest precious gems next to diamond.
It’s not so much that diamonds are particularly rare- and even though only 20~% of mines diamonds are jewelry grade- many many times of diamond are mined daily- so jewelry grade stones- even those in “premium” rages of cut and clarity and carats, aren’t SO rare. BUT, diamonds Only can be found near sites of ancient volcanic activity where certain conditions were present. There are 35 or so countries with diamond mines- but some generally don’t produce as many or as high grade stones, and the location can also influence the average size of uncut jewelry quality diamonds.
Diamond mining can be quite costly, especially in countries that regulate safety and environmental impact. Countries known for “blood diamonds” and such traditionally can produce diamonds at a relatively low cost and a huge mark up- and the fact that many of the worlds mines and markets are controlled by only a few elites impacts this.
Because diamonds Are primarily rare due to control over the supply- huge firms can flood the market and drop prices to push competitors out of business, and then once the mines are closed up or bought out can raise prices again. They can also use contracts or other exclusive supplier deals to “muscle” jewelry makers and sellers into not using diamonds they don’t approve. They simply threaten to cut their supply or impose other hardships if the seller refuses
The industry is rife with unethical and blatantly illegal practices which is why many at the top are literally international criminals, and why many countries have restrictions and bans on stones of certain origins. Large diamond firms often “launder” their stones trough shell companies and other means to get around these measures and sell in markets they are prohibited from.
Ironically the primary source of value in diamonds is that we decide they are worth it. Their perceived rarity (not really rare,) beauty (not actually the most beautiful clear refractive stone) their being “forever” (not actually as tough as most people think,) and sentimentality (created by diamond companies and propagated by consumers who simply “must” have a diamond.
But- here’s where it’s extra crazy. Only 2 countries have made manned trips to the moon. The United States band the sale or private possession of ANY moon rock brought back by NASA. If your grandpa or whoever went to the moon and brought a rock back, and leaves it to you in their will- you can’t own it. The government takes it. The Russians allowed a limited sale of moon rock. In consumer hands moon rock is one of the rarest rocks you can get. People will pay millions to legally own a tiny piece.
But.... the moon gets struck often enough by objects, and has no atmosphere. Pieces of the moon fall to earth as meteorites. People own them. It’s legal. For $60 or less you can own an actual piece of the moon- which is still much rarer than diamond.
But regardless- the moon is mostly common rocks found on earth. The make up is a little different but that’s about it. A large percentage of material in lunar meteorite is iron. Plain iron. People make rings from lunar meteorite often costing $300-1000 if no other precious metals or stones are used. But it’s a bare iron ring. It rusts. If you get sun screen on it it weeps a gross orange brown paste. You need to coat your ring in gun oil or wd40- which most people don’t want to smell like or have on their hands all day.
So an iron ring from earth is maybe... $5? $10? But from a rock from the moon that fell to earth it’s about $1,000- and of you could get a ring made from rocks brought to earth on a space ship it would be millions.... for iron. But oddly- the fact that the SAME iron from THE FREAKING MOON was brought back on a space ship in small amounts makes it astronomically more expensive than that which fell to earth on its own.
Yet- a hunk of compressed carbon is generally on average worth more by weight or size than an actual piece of a body from beyond our world....
When we compare equivalencies it doesn’t make much sense does it? Moisanite is another rock that looks like diamond AND comes from outer space (primarily in nature- but most jewelry is lab created) but only recently has picked up much traction compared to diamonds.
Moisanite is tougher than diamond. It has better optical properties, and traditionally cost less. Oh. And it comes from space. So diamonds are largely a suckers bet. There happen to be enough suckers in the world though to make that seem to pay off- at least for anyone seeking diamonds. But generally speaking- in the second hand market diamond jewelry will not hold value well. Some more than others with engagement rings and loose stones often being not worth more than a fraction of their theoretical value.
Yeah but within reason. I can buy a pack of diamond-tipped drill bits that will last me years for a LOT less than a diamond engagement ring. Just saying.
Yes, I think artificial ones are used in industries. However, I don't get why a diamond found in the ground is worth that much only because of its history
Laboratory diamonds are used a lot in industry- but so are natural stones. Because of size, impurities that cause discoloration and inclusions, only about 20-30% of natural diamonds are considered “jewelry grade.” The rest are often used for purposes where a diamonds hardness or other traits are needed over looks. A lab diamond of high quality is actually more perfect for jewelry than any stone you’d find in nature.
As for why a natural diamond is worth more- that’s perception. Why do people pay more money for “hand made” furniture or crafts or clothes or cars than machine made? Why is a costume or figure or model made by human hands usually more impressive than an “off the shelf?” Machines can do most things humans can with greater precision, detail, and consistency. But people can often be heard saying “yeah... anyone can buy xyz if they have money, but so and so MADE xyz!”
A Cheeto shaped like a celebrity will often make news and sell for high prices- simply because it’s random. The same is true of many collectibles. A “shiny” “foil” or “holographic” version of a card has no benefit to a “standard” version but is rarer and almost always worth more. Why is a high quality version of a TCG card you made at home on a printer worth less than One from a factory that turns out thousands?
Why is an action figure, clothing item, or other item made using the same molds and often at the same factory as an original but “knocked off” and of the same overall quality (where it matters) worth less than the official name brand? A quality fake Coach or Gucci purse can be indistinguishable in looks, function, and durability from an original save for a serial number- yet the original will command a higher price.
If you still want one, you can get it/them ethically sourced, or you can buy a lab created one.
I like - many people like - wedding rings as shiny symbols of commitment, but obviously not at the cost of other humans.
I don’t see the value in that particular element from the Earth; it’s not cool like a rare earth metal or anything. It’s not even a cool name like tungsten. And it’s just reflective, not a pretty color.
So tying an abundant although distant resource to a highly personal and public commitment has been very successful, but it’s not a decision you have to go along with. If you want the look but not the thing, lab created is more than adequate and well within tolerance for the human eye.
So does my grandpa's Mauser. My future fiance better be the sort to accept an engagement pistol, or things ain't gonna work out.
When we compare equivalencies it doesn’t make much sense does it? Moisanite is another rock that looks like diamond AND comes from outer space (primarily in nature- but most jewelry is lab created) but only recently has picked up much traction compared to diamonds.
I like - many people like - wedding rings as shiny symbols of commitment, but obviously not at the cost of other humans.
I don’t see the value in that particular element from the Earth; it’s not cool like a rare earth metal or anything. It’s not even a cool name like tungsten. And it’s just reflective, not a pretty color.
So tying an abundant although distant resource to a highly personal and public commitment has been very successful, but it’s not a decision you have to go along with. If you want the look but not the thing, lab created is more than adequate and well within tolerance for the human eye.