Jewellery and Coins

https://uk.reuters.com/

WASHINGTON/LONDON (Reuters) – The U.S. Federal Trade Commission, which investigates allegations of deceptive advertising, has sent warning letters to eight companies to insist they distinguish in advertisements between diamonds from mines and those made in laboratories, it said on Tuesday.

The FTC said it had found instances where the eight companies advertised diamond jewelry “without clearly and conspicuously disclosing that the diamonds are laboratory-created,” according to the letter.

The agency declined to identify the recipients of the letters. An unredacted version of one of the letters seen by Reuters identified that recipient as Diamond Foundry, a California company that makes laboratory diamonds.

Read more

https://www.npr.org/

A lot of money is pouring into the global diamond industry, but demand for diamonds has been less than lustrous of late. A new player might be changing up the industry – diamonds grown in labs.

AILSA CHANG, HOST: The global market for diamond jewelry is worth $80 billion a year. Money is flooding into this industry, but why when demand for diamonds isn’t as lustrous as it once was? Cardiff Garcia and Sally Herships have more from the Planet Money podcast The Indicator.

CARDIFF GARCIA, BYLINE: So marriage rates are on the decline. At the same time, the cost of producing diamonds is still obviously very high. You have to mine diamonds, which is labor-intensive. It’s dangerous. It’s expensive. And of course diamonds are a dwindling natural resource. There’s only so many of them in the ground. That leads us to our mystery. Why is all this money pouring into the diamond space?

Read more

https://www.nytimes.com/

Consumers want to know the origin of the things they buy, like the name of the farm that supplied their milk or the source of the feathers in a down jacket. But when it comes to a diamond — quite likely one of the most expensive and emotional purchases a jewelry buyer will ever make — most know next to nothing about the source of the stone.

Tiffany & Company, which sold more than $500 million worth of diamond engagement rings in 2017, is hoping to change that. Beginning Wednesday, it will start a program that will identify for customers the country where their diamond was mined, and, eventually, information on where it was cut, polished and set.

The move is part of an effort among jewelers to attract younger shoppers, who may look upon established, venerable stores as stuffy and uncool. They also tend to eschew the hefty baubles their parents preferred for a much more spare style.

Read more

https://theconversation.com/

It’s diamond season. Almost 40 percent of American engagements happen between Thanksgiving and Valentine’s Day, with Christmas the most popular day to pop the question – and hand over a sparkly piece of ice. Jewelry stores do at least double their usual monthly sales in December.

Since at least the late 1800s, with the discovery of huge diamond mines in South Africa, people have treasured these dazzling gems. The beauty and splendor of diamonds goes well beyond the surface. Like a diamond hunter digging in an underground mine, one must look deeper to their atomic characteristics to understand what sets these stones apart – and what makes them valuable not just for romantics but also for scientists.

When mined from the earth, diamonds look like cloudy rocks before they’re cut and polished. Their chemical nature and structure were unknown for centuries. It was Isaac Newton’s experiments in the 1600s that first suggested diamonds are made up of the fourth-most abundant element, carbon.

Read more

https://www.jewellermagazine.com/

What is really behind the jewellery industry’s greatest U-turn? CHAIM EVEN-ZOHAR with PRANAY NARVEKAR analyse De Beers’ real motives.

In the mining business, shouts of “fire in the hole” are warnings that an explosive detonation in a confined space is imminent. They warn of a dynamite charge that has been set. Depending on where you are positioned, ignoring it can be hazardous or even lethal.

The Lightbox Jewelry announcement of De Beers, signaling its policy U-turn of moving into the gem-quality synthetic diamond business, is a comparable ‘fire’ warning to the industry. This explosion may be foreshadowing the eventual end of natural diamond mining.

This U-turn by De Beers has always been a question of ‘when’ and not ‘whether’. The introduction of the Lightbox lab-grown diamond jewellery lines, coming on top of several other lab-grown diamond collections, symbolises another light pole on the edge of the road towards a rapidly growing global diamond jewellery market in which, eventually, any dissimilarity (differentiation) between lab-grown and naturally mined diamonds will evaporate.

Read more

https://www.bloomberg.com/

(Bloomberg) — De Beers made steep cuts in the prices of low-quality stones at its sale this week, according to people familiar with the situation.

The world’s biggest producer reduced prices as much as 10 percent for low-quality stones, said the people, who asked not to be identified because the sales are private. It’s the latest sign that the bottom end of the market is in turmoil.

De Beers sells rough diamonds to trade buyers who cut, polish and manufacture them into the polished stones sold in jewelry stores. While there is some correlation between rough and polished prices, lower prices at a De Beers sale is unlikely to make a difference at the consumer level.

Read more

https://www.gq.com/

Getting engaged just got 30% cheaper.

It’s rare that an imitation, Frankensteined into existence, is anything more than a watered-down, flimsy version of the original. Real Rolexes and Folexes. Charcuterie and “ham”-and-“cheese” Lunchables. Coke and Diet Coke. (Fight me, Diet Coke fans.) But when it comes to diamonds—items we’ve historically been conditioned to think of as exceptionally precious—that might not be the case.

Lab-grown diamonds are exactly what they sound like: diamonds that were manufactured in a lab, rather than mined from the earth. These aren’t knockoffs; they’re not cubic zirconia; they’re not Swarovski crystals.

They’re bona fide diamonds—chemically identical to their earthen counterparts, so declared by the FTC this summer, except they cost about 30% less than mined diamonds. Excellent news if you’re shopping for a diamond…and less excellent if you’re selling them.

Read more