The History of Diamonds
The first know discovery of diamonds dated back over 2,300 years ago in the Indian region of Golconda, and up until 1725, India was the only notorious country to have a source of diamonds.
In 1725 a diamond-producing area in the State of Minas Gerais, Brazil was discovered by gold miners along the banks of the Jequitinhonha River. And by 1760 Brazil was producing almost half of the world’s supply of diamonds resulting in the value of diamond falling by more than 60%. However, diamond value increased sharply in the late 1800’s when Brazilian diamond mining dramatically decreased
The first diamond discovered in South Africa was from an alluvial deposit and dated back to 1866 when Erasmus Jacobs, a 15-year-old boy, found a 21.25 carats stone along the south bank of the Orange River on his father’s farm. Over the course of the next few years, South Africa produced more diamonds than India presented in more than 2,000 years.
Diamonds are supposed to be forever
Experts estimate that more than 30 major diamond mines will cease to exist by the year 2030. Australia’s Argyle mine is the third largest diamond mine by volume in the world and will close its operations by 2020. Diamond reserves of three major mines in South Africa, the Kimberly, Venetia and Voorspoed are expected to cease by 2025.
Reports estimate the world’s supply of NATURAL diamonds will decrease by approximately 50% in 2030 with reserves declining in 2020.
To think that maybe one day the Earth will no longer be able to provide the world with this precious gemstone and can you imagine how expensive a natural diamond might be if our planet were exhausted of all supplies?
The rarest and most expensive diamond today is the Pink Star Diamond weighing in at 59.6 carats. This fabulous diamond is valued at $72 million, equivalent to $1,208,053.69 per carat.
What will it be worth in 30 years time?
It’s disturbing for me to think that our Mother Earth is running out of NATURAL diamond reserves.
As the world’s supply of NATURAL diamonds diminishes, what will happen to the market?
If you have diamonds do you sell them now or do you hang onto them and purchase more?
Could NATURAL diamonds now be a good investment?
What are your thoughts?