For thousands of years, Diamonds have always been thought of as a sign of wealth, status, and beauty. Nevertheless, what is currently unknown to most individuals regarding the diamond industry could change this popular view of the market in future years.
Diamonds were first discovered thousands of years ago in the Golconda region of India. Up until the 1700’s, Golconda was the world’s largest and only source of diamonds. The majority of diamonds from this region were found in alluvial deposits located in rivers and streams. India is still producing twenty thousand carats per year including all the notorious diamonds like the koh-I-Noor, Orlov, Hope, and the Sancy.In 1866, the world’s largest diamond deposit was discovered in Africa which changed the diamond industry. In 1870, two men named Cecil Rhodes and Barney Barnato arrived in Africa to take over the world’s largest diamond deposit at the Kimberley mine. In the end, Cecil Rhodes bought-out Barney Barnato for ownership of the Kimberley mines, resulting in the development of the world’s most active monopoly called the De beers Consolidated Mines Company.
De beers withheld diamond rough when prices were low and sold the rough only when prices were high. This wouldn’t be the first and last time De beers would be frowned upon for their ways. During World War II, when the United States needed industrial grade diamonds for cutting machine parts, they turned to De beers. With De beers prices set too high, the government then turned to General Electric to create synthetic diamonds.
When De beers discovered this, they made sure that the synthetic diamonds would not land into the hands of the United States government. Once this was revealed, De beers was charged with crimes against the United States and any employees of the company would face incarceration if they entered the country. This punishment lasted from World War II until 2004, when De beers pleaded guilty and paid a millions of dollars in fines.
There are a series of reactions that need to occur for a diamond to form. The first reaction involves pressure, which must equal 7,300 tons weighing down on the carbon atoms. The second is depth, with diamond formation only occurring at one hundred and fifty kilometers below the surface. The third is heat, which has to be at a temperature of 1400 degrees Centigrade. If all three of these reactions do not occur, then the diamond will turn into graphite.
The reactions that happen inside the earth are responsible for three of the four C’s that create a diamond. This happens to be the color, clarity, and carat. When it comes to color, nitrogen and boron are the two elements that make an impact. Nitrogen provides a yellow tint in Type 1a diamonds and also the vibrant yellow color for Type 1b fancy canary diamonds. Type 1a are the most common diamonds found on the market today. These diamonds have nitrogen clumps that form in the crystal lattice (Structure of a diamond). These nitrogen clumps produce a diamond with a yellow tint or a brownish color. Type 1b diamonds are rare canary yellow diamonds where nitrogen is spread throughout the crystal lattice.
Impurities of Boron in the crystal lattice are responsible for fancy blue colored diamonds also known as Type 2b diamonds. These diamonds are extremely rare, making up only one percent of the market. Natural blue diamonds are the only type of diamond that can conduct electricity. The most famous Type 2b diamond is the Hope Diamond located at the Smithsonian Museum in Washington, D.C.
The color of a diamond is the second most important factor when buying a diamond. The color scale ranges from D to Z and is broken down into sections of D-E-F, G-H-I, J-K-L, and M-Z. D-E-F are colorless diamonds on the grading scale. Large stones are “D” grade and diamonds that are less then half a carat are “F” grade. “F” grade diamonds are so small that it is difficult to get an accurate color. G-H-I are known as “face white grade” because when you view these diamonds through the face or table (top of the diamond) they appear colorless. When G-H-I diamonds are turned upside down, their color is revealed. J-K-L diamonds appear colorless if they are set properly and are cut right. The last of the color scale ranges are M-Z were the diamonds yellow tint increases with every letter on the grading scale.
Clarity is least important of all the diamond grading procedures. The reason for this is because the “sparkle” of a diamond is more important to individuals when buy or showing off a piece of diamond jewelry. The only way an individual can determine a diamond’s clarity is through the use of a magnifying glass. Diamond clarity grading consists of flawless, VVS1, VVS2, VS1, VS2, SI1, SI2, I1, I2, I3.
When a diamond is flawless it means there are no invisible inclusions (flaws that are in or on the diamond) under 10x magnification. VVS1 (very very slightly included 1) diamonds are those that have a pin point near the girdle (outside) of the diamond. VVS2 (very very slightly included 2) are those that have a single pin point near the table (center) or have two pin points near the girdle. VS1 (very slightly included 1) are diamonds that have very small grain lines, small feathers (inclusions that resemble feathers), and pin points near the girdle of the stone.
VS2 (very slightly included 2) are diamonds that have very small grain lines, small feathers, and pin points near the table of the stone. SI1 (slightly included 1) are easily visible under 10x magnification and include larger feathers, clouds of pin points, and included crystals near the girdle. SI2 (slightly included 2) are also easily visible under 10x magnification and include larger feathers, clouds of pin points, and included crystals near the table.
I1 diamonds have inclusions that can be seen with the naked eye and do not affect the beauty or durability of the stone. I2 diamonds have inclusions that can be seen with the naked eye which affect the beauty or durability of the diamond. Last on the grading scale are the I3 diamonds. These diamonds have inclusions that are seen with the naked eye and like I2 diamonds, these inclusions affect the stone’s beauty and durability.
The carat of a diamond simple refers to the weight of the stone. When buying a diamond one should be aware of unnecessary weight that is added to the girdle of the stone by lapidary (diamond cutter). This unnecessary weight results in light leaking out through the girdle and ultimately effecting the beauty and value of the diamond.
Cut is the most important and the only characteristic of the four C’s that is not affected by the reactions that take place inside the earth. A cut of a diamond is the most important “C” because the beauty of the stone comes from a proper cut. Without a proper cut, a diamond will get an inadequate amount of light return out of the top minimizing its sparkle.
In 1919, mathematician Marcel Tolkowsky created an equation that would return the majority of light out of the top of a diamond leading to be called the “ideal cut.” Due to the lack of technology at this time, this cut was not perfected until the mid 1940’s.
Diamonds are such a high class luxury item that many consumers are not aware of the many treatments conducted on diamonds including fracture filled, laser drilling, HPHT, irradiation, and coating. Fracture filled also known as yehuda, or “clarity enhanced” is the process of filling in a crack on the surface with a substance of similar density as the diamond.
Laser drilling is a clarity enhancer which uses a laser to burn out inclusions that are on the inside of the diamond. The laser burns from the inside out leaving a hole that is then filled in with the same substance used in fracture filling.
HPHT (high pressure high temperature) also known as 'annealing treatment' is used on a diamond’s crystal lattice that is damaged during the formation process causing the diamond to have off colors. During HPHT, the diamond is subjected to the same amount of pressure and temperature that would occur naturally in the earth, resulting in a repaired crystal lattice and the appearance of its appropriate color.
Next is irradiation used to improve the color of a diamond. Irradiation eliminates some of the carbon atoms leaving color holes and turning the diamond a green or blue color. Irradiated diamonds will have a saturation of colors in an area.
The last treatment is coating. Coating consists of a diamond being infused with an ion coating producing a pink color. A scratch test can be conducted to determine if a diamond is natural or coated. A scratch test is performed by scratching the underside of a diamond with a pair of tweezers and viewing the stone under an overhead light.
A diamond is a beautiful gemstone that unknowingly to most, is subjected to treatments like most gemstones and its high price is not based on availability but rather a monopoly.