Diamonds are considered as a female’s best friend as it stays with her forever. Here are some interesting facts about them.
- Economically, diamonds are not that rare at all. In fact the supply exceeds demand in case of diamond.
Yes there was a time when diamonds were rare. But that time is long gone (about a century long ) due to the discovery of large amount of diamond reserves in South Africa in the mid 19th century. Reason why they are still expensive is the artificial shortage created by BOSS MINING COMPANIES in South Africa. They do so by hoarding the mined diamonds and sending them in market in small amounts.
- Diamonds are not at all a wise investment like gold.
In the words of Nicky Oppenheimer, chairman of De Beers (A mining company that controls about 60 to 75% of the world’s diamond trade), “diamonds are intrinsically worthless, except for the deep psychological need they fill.” Unless you are a diamond trader, you won’t be able to make profit by reselling a diamond because the best price you can get will always be the wholesale one. Main reason for this is again huge piles of crude diamond present in mines ready to be shipped for cutting. Now if customers will start reselling their already cut diamonds then it will affect the business of the companies which rely on shipment and cutting of the crude ones. Thus diamonds are more of a ‘pass off to offspring’ kind of investment and not a financial one. So all that glitters is not gold is after all true in this case.
- Major application of unprocessed diamonds is not creation of romantic jewellery but is its use for industrial purposes due to its property of extreme hardness (10 on Mohs scale of hardness).
As a matter of fact 80% of crude diamonds are used for industrial purposes.
- Speaking of hardness, lets talk about it being hardest material on earth.
There is no questioning the fact that diamond is the hardest natural mineral discovered till date. However , an artificial sibling of diamond named Aggregated diamond nanorods, or ADNRs or Hyperdiamond is even harder than diamond. Latter is created synthetically by compressing fullerene.
- Diamonds are forever, aren’t they?
If we think from scientific point of view then no they are not! Diamonds degrade to graphite because latter has lower configuration energy. But this conversion is really slow (REALLY REALLY SLOW: it would take over a billion years to convert one cubic centimeter of diamond to graphite at 25 deg Celsius). So practically , they are forever as compared to human existence on earth which is only 6 million years old.
- Interestingly, there is a Dwarf star named ‘Lucy’ in the Centaurus constellation (50 ly from earth) which is a lump of diamond worth 10 billion trillion trillion carats.
It is the compressed heart of a bright star (like our sun) which has now shrunken. Our own sun is also supposed to change into such diamond star one day.
If you know any more facts about diamonds, please share with us in the comments section below. You can check out more facts here.