When Diamonds Are Dirt Cheap, Will They Still Dazzle?

[jeff of pa]

the ability to perfectly counterfeit everything is coming.

For many decades, the best diamond facsimile was cubic zirconia. It is similar to a diamond in brilliance and clarity but it isn’t as hard as a diamond and could never fool an experienced jeweler. Recently, though, new processes have made it possible to culture diamonds that are visually identical to mined ones.

One such process, chemical vapor deposition, produces diamonds with a heated mixture of hydrogen and methane in a chamber at very low pressures. Writing for Smithsonian Magazine shortly after the technique was developed, Ulrich Boser described having taken a sample stone to a respected diamond merchant in downtown Boston, who inspected it carefully under a jeweler’s loupe. After pronouncing it a “nice stone” with “excellent color” and no visible imperfections, the jeweler asked where it came from. When Mr. Boser said it had been cultured in a lab 20 miles away, the astonished merchant inspected it again. “There’s no way to tell that it’s lab created,” he said.

http://www.nytimes.com/2014/04/20/b...e-dirt-cheap-will-they-still-dazzle.html?_r=1

 

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[DeepseekerADS]

Well Jeff, add to this an article I read last year. And just what are real diamonds worth? Certainly not a good investment...

Russian Diamonds: Siberian Meteorite Crater Said To Hold Trillions Of Carats

Russian Diamonds: Siberian Meteorite Crater Said To Hold Trillions Of Carats

MOSCOW -- Russian scientists are claiming that a gigantic deposit of industrial diamonds found in a huge Siberian meteorite crater during Soviet times could revolutionize industry.

The Siberian branch of Russian Academy of Sciences said that the Popigai crater in eastern Siberia contains "many trillions of carats" of so-called "impact diamonds" – good for technological purposes, not for jewelry, and far exceeding the currently known global deposits of conventional diamonds.

Nikolai Pokhilenko, the head of the Geological and Mineralogical Institute in Novosibirsk, told RIA Novosti news agency Monday that the diamonds include other molecular forms of carbon. He said they could be twice as hard as conventional diamonds and therefore have superlative industrial qualities.

He said the minerals could lead to a "revolution" in various industries. "But they can't upset a diamond market because it is shaped by diamonds for jewelry purposes."

The deposit was discovered by Soviet scientists in the 1970s, but was left unexplored as the Soviet leadership opted for producing synthetic diamonds for industrial use. The deposit remained classified until after the Soviet collapse.

Pokhilenko said that the diamonds owe their unparalleled hardness to enormous pressure and high temperatures at the moment of explosion when a giant meteorite hit 35 million years ago, leaving a 100-kilometer (60-mile) crater.

The Siberian branch of Russian Academy of Sciences said in a statement that scientists discussed the issue at a roundtable in Novosibirsk over the weekend, saying that further studies will be needed to assess economic aspects of their potential exploration.

Pokhilenko said his institute is planning to send an expedition to the crater in cooperation with Russia's state-controlled diamond mining company Alrosa.

 

[Chadeaux]

I'd still rather dig my own at Crater of Diamonds in Arkansas.

6 Carat diamond found there last week ... and lots of fun to just sit around with dozens of folks from all walks of life and dig in the dirt.

For the folks who are cache hunters ... the same area was frequented by Albert Pike and I have seen things I won't share here.

Just remember, you can dig for diamonds or anything else in this State Park ... but only in designated area and only with hand tools.

 

[jeff of pa]

Well Jeff, add to this an article I read last year. And just what are real diamonds worth? Certainly not a good investment...

Yea if not for DeBeers there would be so many Hundreds of Million of Diamonds flooding the Market
you may as well use plastic in rings

 

[DeepseekerADS]

I'd still rather dig my own at Crater of Diamonds in Arkansas.

I'd still like to go there, but I'd certainly sell anything I found, and quickly!

 

[Chadeaux]

If you go, make sure it has had a chance to dry a bit. Last time I went while it was still a bit wet hoping they might be a couple lying on top of the ground (thinking arrowheads in a recently plowed field, followed by a good spring rain).

Sifter doesn't work will when it's sifting moist soil.

BTW, if you don't want to lug your own "tools", or you get a chance to go but don't have them with you, you can rent some on site.

For encouragement .... http://www.foxnews.com/us/2014/04/17/man-finds-6-carat-diamond-at-crater-diamonds/

 

[BC1969]

Quite a few years ago, some kind of fake diamonds came around, that even fooled the diamond testing machines of the day, I know of several guys that got majorly burned on that, even lead to one suicide, because the guy selling a boatload of supposed high grade diamonds wanted so little for them by playing a dumb act, that the jeweller lost several million bucks on the deal, but greed clouded his vision I guess, because if they had been real, he would have made a 100 million off the deal.

Mike

 

[Jim in Idaho]

Well Jeff, add to this an article I read last year. And just what are real diamonds worth? Certainly not a good investment...

Russian Diamonds: Siberian Meteorite Crater Said To Hold Trillions Of Carats

Russian Diamonds: Siberian Meteorite Crater Said To Hold Trillions Of Carats

MOSCOW -- Russian scientists are claiming that a gigantic deposit of industrial diamonds found in a huge Siberian meteorite crater during Soviet times could revolutionize industry.

The Siberian branch of Russian Academy of Sciences said that the Popigai crater in eastern Siberia contains "many trillions of carats" of so-called "impact diamonds" – good for technological purposes, not for jewelry, and far exceeding the currently known global deposits of conventional diamonds.

Nikolai Pokhilenko, the head of the Geological and Mineralogical Institute in Novosibirsk, told RIA Novosti news agency Monday that the diamonds include other molecular forms of carbon. He said they could be twice as hard as conventional diamonds and therefore have superlative industrial qualities.

He said the minerals could lead to a "revolution" in various industries. "But they can't upset a diamond market because it is shaped by diamonds for jewelry purposes."

The deposit was discovered by Soviet scientists in the 1970s, but was left unexplored as the Soviet leadership opted for producing synthetic diamonds for industrial use. The deposit remained classified until after the Soviet collapse.

Pokhilenko said that the diamonds owe their unparalleled hardness to enormous pressure and high temperatures at the moment of explosion when a giant meteorite hit 35 million years ago, leaving a 100-kilometer (60-mile) crater.

The Siberian branch of Russian Academy of Sciences said in a statement that scientists discussed the issue at a roundtable in Novosibirsk over the weekend, saying that further studies will be needed to assess economic aspects of their potential exploration.

Pokhilenko said his institute is planning to send an expedition to the crater in cooperation with Russia's state-controlled diamond mining company Alrosa.

Keep in mind, most of those Russian diamonds are NOT gem quality. It's a large discovery, but mostly industrial.
Jim

 

[DeepseekerADS]

Tis true these will not impact the jewelry market. But, what I remembered from then was the fact the Russians kept it secret in order to keep prices high at the time. Here's an article which better explains the impact of the find.

Russia Has More Diamonds Hiding in an Asteroid Crater Than the Rest of the World Has Combined

Russia Has More Diamonds Hiding in an Asteroid Crater Than the Rest of the World Has Combined

Adrian Covert

9/18/12 3:08pm

Russia Has More Diamonds Hiding in an Asteroid Crater Than the Rest of the World Has Combined.

If you had more diamonds than the rest of the world combined hiding under an asteroid crater, would you tell anyone? Russia was happy to keep that knowledge a secret until now, finally revealing plans to begin tapping into a reserve containing trillions of carats worth of diamonds.

It's a treasure trove of unprecedented scope, secrecy, and value.

First reported by the Christian Science Monitor, the crater, which rests in the upper reaches of Siberia, was left by an asteroid that crashed into Earth 35 million years ago, creating an impact zone that's 62 miles in diameter. In the intervening eons, it's believed to have spawned enough diamonds to power the global market for the next 3,000 years. By context, the next biggest Russian reserve at the Yakutia mines is believed to have one billion carats—several orders of magnitude less than this current haul.

What makes these diamonds especially valuable to prospective buyers is the fact that they're impact diamonds, or diamonds formed as a result of an asteroid or meteor crashing into the carbon-based compound graphite. According to IDEX, these are diamonds that can never be used as jewels, but rather are extremely valuable for their industrial applications. For starters, Russian officials claim these newly revealed diamonds, known as impactite, are twice as hard as normal diamonds, while others value these diamonds for their grain size and abrasive cuts.

So why reveal the secret now, after all these years? When the discovery was first made decades ago, Russian already had other diamond mines which were yielding abundant amounts of the coveted mineral. And because the diamond industry was heavily regulated back then, there was little financial motivation to announce a discovery that has the power to heavily influence the market for these things. But now, with the diamond industry starting to show signs of life after bottoming out in 2009, and the increased use of diamonds in the technological world, Russia seems to think its a good time to start mining these valuable little things (or at least start thinking about mining them).

But the true effect will take time to be felt, according to a quote given to the Russian publication ITAR-TASS by an expert in the field:

Deputy Director of the Yakutnipromalmaz Institute Gennady Nikitin warns: "The Popigai diamonds can overturn everything, and is not clear what will happen to prices in the market."

So how will this impact us normal people? Probably not much at all. Since these jewels will never be converted to gems, the price of that wedding ring you plan to give or receive will never be affected by this Russian stockpile. But should there be a global shortage in the future, Russia will be in a unique position of controlling the entire industrial diamond industry. Given the increased use of lasers in technological innovations, and the quest to attain nuclear fusion (both of which rely on industrial diamonds), the demand for this rock won't be diminishing anytime soon.

 

[Red James Cash]

I'd take a flawless ruby or emerald over the same in a diamond any day.

 

[BC1969]

What RJC said, I totally agree!
A 1 carat flawless emerald is as rare as a 10 carat flawless diamond, not sure why diamonds are so sought after, rubies or emeralds that are flawless are much much rarer.
Unless of course its a blue or red diamond.

Mike

 

[Frankn]

I'd still rather dig my own at Crater of Diamonds in Arkansas.

6 Carat diamond found there last week ... and lots of fun to just sit around with dozens of folks from all walks of life and dig in the dirt.

For the folks who are cache hunters ... the same area was frequented by Albert Pike and I have seen things I won't share here.

Just remember, you can dig for diamonds or anything else in this State Park ... but only in designated area and only with hand tools.

Hay, I would rather hear about Pike!! Frank...

 

[Red James Cash]

What RJC said, I totally agree!
A 1 carat flawless emerald is as rare as a 10 carat flawless diamond, not sure why diamonds are so sought after, rubies or emeralds that are flawless are much much rarer.
Unless of course its a blue or red diamond.

Only because of marketing.De beers has the monopoly on diamonds,no competition.

 

[BC1969]

Credits to Ron White.
The DeBeers people are almost saying what they really mean. You remember the old DeBeers slogan, "Diamonds are forever." Then they changed it to "This year, take her breath away." The new slogan is "Diamonds. Render her speechless." Why don't they just come out and say it: "Diamonds. That'll shut her up."

 

[Red James Cash]

I'd rather give her a gemstone that I dug with my own hands.They can take their diamonds and stick em where god split em.