Rocks and It's Origins

Module A. Diamonds and Due Diligence

The Crown Jewels - The Cullinan Diamond – weight 3106 carats nine significant stones, 96 smaller stones The nine significant stones were given the names Cullinan I through IX and reside with the British Royal Family and Crown Jewels. The Cullinan I (530.2 carats), also known as the Star of Africa, is mounted in the Royal Scepter and the Cullinan II (317.40 carats) is mounted in the Imperial State Crown. The "smaller" Cullinan III and IV, 94 and 64 carats respectively, are set together in a single brooch. We'll read about the Cullinan Diamonds in a later section.

Another famous diamond is the Hope Diamond. This stone is most remarkable because of its deep blue colouration and lack of internal flaws – something that rarely comes together in such a great size! It weighs 45.52 carats, shows VS1 clarity, and its cut is described as a Cushion Antique Brilliant. It was most likely mined in India from the Golconda region and was first sold to King Louis XIV in 1668 by Jean-Baptiste Tavernier. It has changed hands a number of times but currently sits in the Smithsonian Institution's National Gem Collection. Because of its remarkable nature and long history, there are more than 5 books devoted to it and many articles on the topic. Our textbook also includes details of this infamous 9 gram stone.

Diamonds like the Hope, Koh-I-Noor and Cullinans are hard to value – how exactly do you put a price on the Queen Mother's centerpiece stone? And what scenario would unfold that prompts the British Crown to sell such iconic pieces? To approximate the value of these stones we could look at some of the most expensive stones ever sold, but even then, it is not a true comparison. The historic blue Wittlesbach Diamond has a history stretching back to the 17th century and has been passed through many royal families. It weighs 35.56 carats and is the current record holder for the most expensive diamond ever sold at auction (held in December of...