While there are many resources around the internet and in your local jewelers about the basics of diamonds, including the “Four C’s”, there are many aspects of a diamond like ‘gem quality’ that the average person does not know. New York Loan Company is staffed with GIA (Gemological Institute of America) trained Graduate Gemologists, who know many of the mysteries of diamonds, and the unique role they play in this world. When coming into our offices to pawn your jewelry or to buy or sell diamonds, it is important that you know professionals in the industry are evaluating your precious collateral.
Here some facts about diamonds that you may find interesting, and that you may find useful in your next diamond purchase or loan.
- Mining diamonds is a huge and expensive undertaking. On Average, mine workers must process more than a ton of ore (rock) to recover a half carat of diamonds.
- Diamonds are very stable; they’re invulnerable to virtually all acids, can withstand extremely high temperatures, and is the hardest mineral on earth. In fact, only diamonds can scratch or cut other diamonds.
- Only about 5% of diamonds mined in the world are ‘gem quality’. The majority of diamonds are either ‘near-gem quality’ or ‘industrial quality’. Industrial quality diamonds are used in industrial uses like drills and abrasives.
- Diamonds are the only gems made out of a single element: Carbon. Other elements, or trace elements, in the stone can sometimes alter color or shape; these trace elements are how we get some fancy colored diamonds.
- About 35% of diamonds, in the right conditions, exhibit fluorescence under ultraviolet light. The majority of these stones fluoresce a blue color, and depending on the color grading, can greatly decrease or increase the value of the diamond.
- Many clients assume that a larger diamond is more expensive, but that isn’t always accurate. Color and clarity differences can make a smaller diamond much more valuable than a larger one. For instance, a .52 carat diamond that is D in color, and flawless in clarity, is much more expensive than a 1.05 carat P color with I2 clarity. A combination of all the four C’s is what determines the value of a diamond, not just one factor.
While this is only a small look into the unknown world of diamonds, these facts could very well help you appreciate that diamonds that you own, and encourage you next time you’re purchasing, pawning, or selling a diamond. New York Loan Company in the International Gem Tower sells, buys and makes pawn loans against diamonds of all shapes and sizes.