HISTORY OF DIAMONDS
Diamonds have a long history as beautiful objects of desire. In the first century AD, the Roman naturalist Pliny stated: “Diamond is the most valuable, not only of precious stones, but of all things in this world.” The diamond is more than just aesthetically beautiful—it’s an enduring symbol of love, romance, and commitment. The stone’s name is derived from the Greek word adamas, which translates to “unconquerable.” This symbolic meaning lends itself well to the diamond’s historic commemoration of eternal love.
The world’s love of diamonds had its start in India. The earliest diamonds were found in India in 4th century BC, although the youngest of these deposits were formed 900 million years ago. Diamonds were valued because of their strength and brilliance, and for their ability to refract light and engrave metal. Diamonds were worn as adornments, used as cutting tools, served as a talisman to ward off evil, and were believed to provide protection in battle. In the Dark Ages, diamonds were also used as a medical aid and were thought to cure illness and heal wounds when ingested.
In the early 1700s, as India’s diamond supplies began to decline, Brazil emerged as an important source. Once it reached its full potential, Brazil dominated the diamond market for more than 150 years. The 1800s brought increasing affluence to western Europe and the United States. Explorers unearthed the first great South African diamond deposits in the late 1800s just as diamond demand broadened.
In 1982, a highly productive new mine in Botswana added to world production. A prolific source of high-quality diamonds, the Jwaneng mine boosted Botswana’s production so much that the country rose to third in the world in total diamond recovery, and second in diamond value. De Beers contracted with Botswana’s government to buy the mine’s production and Botswana set out to build its own diamond-cutting industry. World diamond mining expanded dramatically with the discovery of sources in Australia in 1985 and important new deposits in northern Canada in 2000.
The story of the modern diamond market really begins on the African continent, with the 1866 discovery of diamonds in Kimberley, South Africa. Entrepreneur Cecil Rhodes established De Beers Consolidated Mines Limited 22 years later, in 1888. By 1900, De Beers, through its mines in South Africa, controlled an estimated 90 percent of the world’s production of rough diamonds. At the end of the 1970s, the world’s most important rough diamond producers were South Africa, Zaire (now renamed the Democratic Republic of Congo), and the former Soviet Union. In the 1980s, output of higher-quality diamonds from Russia and South Africa remained relatively constant.
The history of the engagement ring began in 1215, when Pope Innocent III, one of the most powerful popes of the Middle Ages, declared a waiting period between a betrothal and the marriage ceremony. The rings were used to signify the couple’s commitment in the interim. It was around this same time that rings were introduced as a major component of the wedding ceremony, and it was mandated by the Roman government that all marriage ceremonies be held in a church. In addition to serving as symbols of an intention to marry, these early rings also represented social rank; only the elite were permitted to wear ornate rings or rings with jewels.
The first recorded presentation of a diamond engagement ring was in 1477, when Archduke Maximilian of Austria proposed marriage to Mary of Burgundy. Although engagement rings were common at this time, diamonds were a rarity and were reserved for royalty and the upper elite class.
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