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I confess that I have not read this entire article.
It brought to mind, though, some special that I saw on tv explaining how diamonds can be artificially made and indistinguishable(by experts) from the real ones, so much so that I believe that the Russians, who were at the time the best at manufacturing them, were asked to mark them in some way as man made.
I have heard that gold miners manipulate their productivity, but I have no real knowledge of this.
I am wondering why I am no longer hearing of these wonderful man made diamonds any longer.
Again, these are not cubic zironia, but real diamonds that were brought to several venerated experts who could not distinguish traditional diamonds from these manufactured ones.
Diamonds are not a commodity although IndexIQ has filed with the Securities and Exchange Commission to launch a physically backed diamond fund. Some are claiming diamonds are new gold. The value of diamonds has increased more or less in step with gold over the past 10 years. There is no futures market in diamonds, yet.
DeBeers controls about 40% of the diamond market and a standardized pricing structure is illusive. But DeBeers does control the diamond trade and overall pricing. I read somewhere that the cost to mine a caret is about $3.00 meaning the customer cost is way out of bounds with mining costs.
I will not invest in diamonds. DeBeers has a corner on the market and can/does manipulate the price making an diamond backed ETF very iffy. Diamonds are not rare. Industrial diamonds are made, not mined. The market for mined diamonds is almost exclusive the 'bride' and that is how they are marketed. Mined diamonds are not consumed in use like other commodities. There is little substitute for pork bellies, gold, cotton, corn, etc. If you want pork bellies, you have to buy a pig. You want a diamond, you can buy a beautiful 2 caret man-made diamond for several hundred dollars.
You are incorrect in saying that it is impossible to distinguish traditional diamonds from manufactured ones. To the casual consumer, it is impossible but any jeweler can do so easily. The first tip off is the perfection of the cut. They also have machines that can measure the ever so slight differences. If you buy a diamond for your bride, be sure to get it appraised at an another jeweler to ensure it is actually a mined diamond.
------------------- < snip > -------------------
A group is attempting to form a diamond ETF.
They will buy gem quality certified diamonds up to six 6 carats in size.
Russell Comment: Gem quality diamonds are scarcer than gold, but if
the fund is established, it should push up the price of gem-quality
diamonds, which are growing more expensive by the month.
The fund, if it is successful, will also increase the liquidity of diamonds, as
well as educating the public as to the intricacies and science of diamonds.
------------------- < snip > -------------------
"Russell" is Richard Russell - the longest running market advisory published.
It has been around since 1958. I started reading it in 1976.
My wife and I bought a "Gem quality" 1.0 C diamond in 2001 for $10k to go in a ring.
The whole ring will sell for $6k today.
( She also bought 10 oz of gold for $2800 that year, so we're even - ish. )
You are incorrect in saying that it is impossible to distinguish traditional diamonds from manufactured ones. To the casual consumer, it is impossible but any jeweler can do so easily. The first tip off is the perfection of the cut. They also have machines that can measure the ever so slight differences. If you buy a diamond for your bride, be sure to get it appraised at an another jeweler to ensure it is actually a mined diamond.
Yes. This had been my understanding until I saw a documentary on manufactured diamonds for the jewelry market. It said that previously, most jewelers could discern one from the other, but these new diamonds made in Russia were put through tests with many jewelers and they could not tell the manufactured from the mined diamonds.
I'm not in the business, but just relaying the info that I was exposed to because it is so unusual.
I lifted this info from elsewhere:
GE can create a diamond which is purer than is commonly found in nature. This was found in articles from old copies of Gems & Gemology and Popular Science.
... manufactured diamonds ... most jewelers could discern one ...
In order to fake it, the manufacturer would have to "insert" flaws that are "fake flaws."
This would make the manufactured stone look natural.
Why someone would pay more for a natural stone is beyond me.
If I could get a 3C flawless diamond for the price of a 1C I would
( assuming I wanted one in the first place ).
Why people pay more for granite countertops than Corian is also beyond me.
In order to fake it, the manufacturer would have to "insert" flaws that are "fake flaws."
This would make the manufactured stone look natural.
Why someone would pay more for a natural stone is beyond me.
If I could get a 3C flawless diamond for the price of a 1C I would
( assuming I wanted one in the first place ).
Why people pay more for granite countertops than Corian is also beyond me.
Well, granite is usually cold and good for making pie crusts, but somehow I don't think most folks who buy the granite tops are into cooking much.
Well, granite is usually cold and good for making pie crusts, ...
Granite is the same temperature as the Corian.
If granite has a better thermal conductivity then it will feel colder.
You see this effect when you pick up a piece of metal outside when
it's cold. Wood doesn't feel as cold even though it's the same temperature.
Quote:
Originally Posted by goldengrain
Granite also gives off radiation.
Wouldn't that help with making pie crusts also?
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