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Diamonds – The Lore & Legends

By   /   May 21, 2015  /   No Comments

The jewelry industry, including New York Loan Company, owes much of its success to diamonds and diamond jewelry. The complicated and fascinating history behind these stones has intrigued millions over the centuries, including the gemologists at New York Loan and its sister store Beverly Loan Company. To understand why diamonds are as popular as they are, and why they have commanded such high prices, you need to go back to the beginning.

Diamonds are thought to have first been traded in India in the fourth century and  gradually made their way to Western Europe through different trade routes and caravans. The diamond at this time was thought to be many different things including: healing agents, splinters of stars that fell to the earth, protective talismans, and tears for the Gods. Sometimes called a “miracle stone”, diamonds were thought to cure stomachaches, depression and many other ailments.

Diamonds started becoming fashionable in Europe in the 1400s; this is also when the first diamond cut was developed, now called the point cut. In 1477 the first diamond engagement ring is presented to Mary of Burgundy – starting the trend of men proposing with a diamond. This is a tradition that still stands strong today, and that New York Loan Company recognizes as they buy, sell, and loan on engagement rings on a daily basis.

Jean–Baptiste Tavernier, a French gem merchant, is known for his discovery and sale of the 116 carat Tavernier Blue diamond. He sold the rare blue diamond to King XIV of France in 1668. This diamond was later cut by the king to a 68 carat diamond called the French Blue. It was later stolen in the French Revolution and appeared recut in London 30 years later. This diamond is now known as the Hope Diamond. 


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