Myers Depot Metal Detectors

What's up with diamonds?

pulltabMiner

pulltabMiner

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You buy a gold ring with diamonds and you pay a small fortune for it, but if you find a ring with diamonds and sell it, you get the price of the gold and a measly sum for your diamonds. Now I read that diamonds are really common and that their price is controlled artificially...Sigh!
 
Diamonds are controlled by a cartel, if anyone tries to start a new company they drop the prices of diamonds to the point where it isn't profitable to mine them.
 
I hear ya! well if diamonds are ever valuable again I will be rich. I have my jeweler(who is a friend) take out all stones before I cash in anything. I am sitting on a few 1/2 carat and a bunch of smaller stones. maybe if I live long enough (or she doesnt get sick of me) I can have one hell of a 50th anniversary ring made for her!
 
Here's the best of both worlds - I dug a ring earlier this year that has 5 good sized diamonds. Took it to my jeweler and it appraised at 3,000 bux. It fits my wife's finger perfectly.
So I dont have to buy one and we still have one :) Steve in so az (last of the big time spenders) :)
 
steve in so az said:
Here's the best of both worlds - I dug a ring earlier this year that has 5 good sized diamonds. Took it to my jeweler and it appraised at 3,000 bux. It fits my wife's finger perfectly.
So I dont have to buy one and we still have one :) Steve in so az (last of the big time spenders) :)
Click to expand...

:lol::lol:
 
Not to mention they just made machine that can produced diamonds that are indistinguishable from dug up diamonds. It has everyone scared that they will flood the market. I never put any stake in jewelry. It seems very Neanderthal to get excited over pretty rocks and want to wear them.
 
Diamonds are not rare. They are artificially valued because of the few folks that own most of them. I haven't cared for diamonds. There are much more beautiful stones out there and much harder to come by than diamonds.
 
Yeah the Diamond Cartel headed by DeBeers pretty much controls the supply of these pieces crystalized carbon. You can thank Cecil Rhodes for the artifically high prices for buying them, but the low price for selling them back.
 
De Beers controls the Diamond market. It is a monopoly and is not fair. The Russians have tons of diamonds that are better quality and they are not allowed to release them cause it will make them worth as much as a CZ. Monopolies are not allowed in the US unless the government gets a kick back. It is !!!! I tell you.
 
WildDigger said:
De Beers controls the Diamond market. It is a monopoly and is not fair. The Russians have tons of diamonds that are better quality and they are not allowed to release them cause it will make them worth as much as a CZ. Monopolies are not allowed in the US unless the government gets a kick back. It is !!!! I tell you.
Click to expand...

Actually they used to be, but not any more.

In 2000, the De Beers model changed, due to factors such as the decision by producers in Russia, Canada and Australia, to distribute diamonds outside of the De Beers channel, thus effectively ending the monopoly. Current major players in the diamond industry are the African producers Debswana and Namdeb, De Beers, Rio Tinto, BHP Billiton, Lev Leviev, Harry Winston, and Alrosa.
 
The mark up on jewelry is based on not only the "spot market price" of the metal and stones, but the workmanship of manufacture, the marketing, and the time the retailer has to hold the goods before making a sale. Its called business, folks!

The only way to make a profit for the average guy on the street with jewelry is to find it yourself, and then sell it to someone who wants a piece of jewelry. Scrapping it out provides minimal value. But...if you have old broken, bent, or discarded never worn jewelry, that has no emotional value to you, then that is one way of getting some value out of it! Thats one thing KT likes about metal detecting...you just might find something small but of significant value! :lol::lol: And it is relatively easy to dispose of cause of lack of emotional attachment...oh my Grannie wore this ring, etc etc.

You think paper dollars have value???? The Govm't prints millions of them every day! What makes them worth anything more than the paper they are printed on? Society dictates. Just like the diamond cartel. Only advantage to diamonds is their portability...KT can carry $100,000 bucks worth of diamonds in a small envelop in His pocket, where even with $100 bills, you would need a briefcase to carry them all!
 
cfuller3 said:
Diamonds are not rare. They are artificially valued because of the few folks that own most of them. I haven't cared for diamonds. There are much more beautiful stones out there and much harder to come by than diamonds.
Click to expand...

Exactly, diamonds aren't very beautiful in my eyes. Would much rather buy a future wife a ruby, sapphire, embrald, ect. ring.
 
retail vs scrap

I was actualy considering scrapping my small number of gold and silver finds since this is my first season. I'm now thinking I may be better off getting appraisals and then selling them for a great deal in local classifieds or something. Only a couple of the rings are even worth appraising. The rest maybe I'll calculate the scrap value and try to sell them for a bit more than that.

Anyone else done this? Shine them up and sell? I figure the one man's wedding band and the one women's wedding band may actually sell since a lot of young folks can't afford to buy gold retail now.

I can't lose posting a free add and trying I suppose.
 
I don't like diamonds either. I'm more impressed with the 6 gram gold ring I found v the 2.5 gram '1/4 carat diamond' ring I found. Pretty diamonds are just really hard shiny rocks. Emeralds, Sapphires and Rubies are much rarer and cool to look at.
 
Sapphires are not diamonds. Diamonds are crystallized carbon.

A sapphire is actually a form of corundum (aluminum oxide) so it's a pretty crystalline pull tab. :laughing:
 
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