Whether you are getting married or wanting to own a diamond ring, this article is for you. You have to consider every fact before deciding what to buy, invest, or want. A wise decision today might be your ticket for success in the future. An unfit investment may lead you to financial instability.
Diamond ring ranks first among the leading refined pieces of jewelry. Many consider it as a symbol of love, success, status, and tradition. Ultimately, the current market trend advocates it as a symbol of money, power and true love.
They say that every married couple must have it. It was recorded that there are almost 2 million American couples who opt for diamond engagement rings every year. This is somewhat bothering.
A lot of Americans too live off with swarming loans and financial burdens because of this.
Scientifically speaking, diamonds are just pieces of mineral rocks. It has a Mohs scale of 10 and brilliance or refractive index of 2.42. Shockingly, pricing is not based on this. Neither on its inherent scarcity or value. It is just a result of a perfect and successful marketing strategy executed by De Beers in 1938. Since then, the industry continuously inflated its price.
In addition, diamonds are economically not an investment. It is an illiquid asset. It is not being cashed or readily convertible to cash assets. You’ll have a hard time selling a second-hand diamond ring anywhere close to what you have paid for. Lastly, it does not guarantee or considered a financial rescuer in times of financial “shortage”.
In 2018, the average price of diamond reaches at 30,925 USD/carat. With this amount for a single piece of ring, you can invest in other more relevant matters. You have an option to spend it as a down pay mention your dream house or save for an emergency fund. Buy a new car. A tour for your honeymoon and invest in development studies are good options too. Or maybe choosing another precious gem whose value is extraordinary but cost lesser would be best. All of these alternatives will be worth it instead of following the trend.
Moissanite is the perfect answer. Some say it is superior to diamonds in every essential way: cut, color, clarity, durability, fire, brilliance, and cost. They are 70-90% less expensive than diamonds. Yet the characteristics are nearly the same. It has a Mohs scale of 9.25 which is 2nd highest after diamond. It similarly has a high index of refraction of 2.65-2.69. Moissanite is also brighter, more lustrous, and has more fire than diamond.
Moissanite was named after Henri Moissan discovered it in 1893. Moissan even wrongly identified the crystals as diamonds. It was later in 1904 when he identified the crystals as silicon carbide. Even scientists during those times can’t identify properly the difference. This just means that moissanite mineral has a bright future ahead of diamonds.
Given its brilliance and optical similarity, it has become a popular alternative choice for diamonds. Remarkably, the fact that it can be synthesized in laboratories makes it more preferable. The diamond industry does not deny its linkage with funding warfare, genocide, and terrorism. It is a commodity that new era warlords and rulers exchange for armaments. Some mining activities stimulate human rights abuses. This is highly discouraged activities. It goes beyond human understanding. Someone is willing to abuse another human being just to own a diamond. Moissanite offers better. Choose better so you can sleep with a clear conscience knowing you did not contribute to these evil activities.
Furthermore, the general public gives more importance to the beauty of the ring setting than the stone attached to it. Whether you put moissanite on it, nobody will notice. Unless the stone is yellow, has major inclusions, or has a distinctly lopsided cut. Only a few gem masters will be able to distinguish the ideal cut, E color, VS-1 stone from a lesser-quality mineral. What people really looked into is the craftsmanship and artistry of the whole ring band. How the mineral was featured and its side stones. This should be your main agenda. Quality with beauty.
With everything indicated, will you focus more on the attached stone? Eventually, when you have resources to buy an elegant, sophisticated, high-class ring, decide well. A pricey ring engraved with a diamond may give you a well-spread word of popularity. You may feel blessed for having one today. But you may be trading your financial freedom for a while. There is a likelihood that you will spend years paying loans to buy an expensive diamond ring.
On the contrary, moissanite which has a better characteristic costs less. You will have the elegance and beauty. An all-in-one package. You will feel more content knowing that no human rights were violated in trade with your beautiful diamond ring.