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Diamonds occur either colorless and clear or tinted. The most prized quality has a slight blue tint. The tinted “champagne diamonds” have been well marketed and have proven popular in recent years. Diamonds with yellow color are generally quite devalued. Diamonds with small flaws also sell quite cheaply. Rarely found are blue diamonds, green and even pink diamonds, with the latter marketed by Argyle with great success. There is also a very rare red diamond. The unusual colored ones are generally considered to have more commercial value but those who believe in the traditional value place greater importance upon the pure, clarity of the colorless jewel.

Diamonds are found in many places of the world: Borneo, Brazil, South Africa, Siberia, China, Canada, India and in recent centuries, Western Australia.

There are some interesting stories about some of the famous gems. One of the largest is that which belonged to the Rajah of Matan and weighed 318 carats. The Pitt diamond weighed 410 carats in the rough but was reduced to only 137 carats when cut. In 1720 it became part of the French crown jewels and was later pawned by Napoleon to the Batavian government to finally be incorporated into the crown of Napoleon III.

Excelsior was discovered in 1893 and was 969 carats but only 364 carats after cutting.

The largest diamond ever found was the Cullinan in 1905 in the Transvaal, South Africa. It weighed 3,106 carats. In 1908 it was cut into 9 large and 96 lesser stones. Two of the largest are in the British crown jewels.

The Koh-i-noor, or Mountain of Light, is claimed to be the oldest large diamond and dates back to 59 BC. The founder of the Mogul Empire, Baber, reported it to have come into the treasury at Delhi from the conquest of Malwa in 1304, after passing through many Indian rulers' hands. It was thought that the safety of the dynasty depended upon the possession of this fateful jewel. After a time it came to Runjeet Singh, King of Lahore who wore it on his arm between two smaller diamonds. He bequeathed it to the Shrine of Juggernaut but it was later presented to Queen Victoria by Lord Dalhousie on the annexation of the Punjab and sent to London in 1850. The Indians believed the stone would bring misfortune until restored to the line of Vira-maditya. It was re-cut in England which decreased its size. Its present location is unknown.

Napoleon wore the famous Regent diamond in the hilt of his sword. The Regent stone was originally found by a slave who concealed it by hiding it in the folds of the bandage he was wearing over a wound. It was stolen from him and he was thrown into the sea. The diamond was sold to a dealer named Jamchund for £1000. Then it was purchased by Thomas Pitt, grandfather of the Earl of Chatham who purchased it for £20,400. By 1717 it was sold to the Regent of France for £135,000; 410 carats in its natural state — after cutting, which took 2 years to complete, it was reduced to 137 carats and was perfectly white without spot or flaw. During the French Revolution the diamond was stolen from the public treasury. Twelve years later it was recovered and set in the imperial diadem of France.

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