Diamond engagement rings have been worn on the third finger of the left hand, for Egyptians believed the "vein of love" connected this finger to the heart. Until the 15th century only royalty, nobility, and priests were allowed to own and wear diamonds. Since diamonds are unique precious and enduring they represent lasting love and the pledge of marriage. Diamond is from the Greek word "adamas" meaning unconquerable and they are principally found in South Africa, Botswana, Zaire, Russia, Australia, and Canada.

Robert M. Shipley, who founded the Gemological Institute of America (GIA) in 1931, also founded the American Gem Society (AGS) in 1934. the mission of the American Gem Society is to promote ethics, knowledge, and consumer protection. Throughout the world there are many diamond grading systems. Only the AGS and GIA systems qualify and quantify grades with specific and accurate terms detailing the carat weight usually has the greatest impact on value, based on rarity.

THE FOUR Cs
The four Cs; Color, Cut, Clarity, and Carat Weight, are factors that will help you make an intelligent choice with confidence. Cut, color, and clarity are quality or rarity factors. Though some aspects of quality seem subtle, they may have a major impact on value. Carat weight is a value factor. When making a purchase, a consumer must balance the three quality factors with size to obtain the best value within their budget.

COLOR
This is the amount or presence of body color in a diamond. The most rare diamond colors are red, pink, green, and blue. Diamonds that display enough of a hue, or nuance of color to be desirable, are called fancy-colored diamonds.

The complete absence of color in diamonds is also rare and highly prized. Most diamonds mined in nature have traces of yellow, some brown or gray. The range of color most often represented and sold in jewelry stores are: AGS grades 0-.30 and GIA grades D-J.

CUT
In its rough state, a diamond's beauty is well concealed. Cutting reveals its magnificent optical beauty. A diamond cutter's challenge is to balance beauty with weight retention from the rough diamond crystal. In the best-case scenario, approximately 50% of the weight is lost from the original crystal in the cutting process. Because size is important to many consumers, often cutters sacrifice diamond beauty in order to save weight, maximizing the size of the finished diamond.

Shape an cut are not the same. Diamonds are cut in many shapes; round brilliant, pear, oval, marquise, emerald cut (rectangular), heart and triangle. The most popular shape is the round brilliant. The other shapes are referred to as fancy-shapes.

In the past diamonds were analyzed, not graded, for cut by visual estimation. Today, the angels and proportions relating to the quality of cut are determined electronically. A diamond's finish, including polish and symmetry, is graded by human examination through a binocular microscope.

CLARITY
This is the presence or absence of inclusions within the diamond and blemishes on its surfaces. A diamond's clarity grade is determined through examination by an experienced grader, using 10x magnification and also the assessment of the trained, unaided eye. The AGS Lab utilizes binocular microscopes for clarity grading, which provide the best optical, lighting, and viewing conditions.

According to the Federal Trade Commission, only a diamond that is flawless, colorless and well cut can be referred to as "perfect." therefore, it is NOT applicable in most cases.

CARAT WEIGHT
The fourth and final C is carat weight, the standard generally used to measure diamonds. In the early 1900s the Metric Carat was established: 1 Carat = .2 Gram.

There are 100 points to a carat. The FTC tolerance for what is rounded up is 1/2 point. For example, .995 = 1.00 carat. The AGS uses the international diamond standard tolerance for rounding which is 1/10 point. For example, .999 = 1.00 carat.

A full carat is a diamond that weighs or rounds to 1.00 carat. A light carat is a diamond that weighs slightly less than 1.00 carat. Example, .96-.99. This IS NOT a full carat. Magic size diamonds are those that weigh-in exactly at or greater than a major size category.

Most fancy-shaped diamonds are elongated in shape and appear larger than a comparable round brilliant diamond. In addition, in most cases, fancy-shaped diamonds are priced less than round brilliants.

A diamond grading report is an expert third-party opinion of the diamond quality. The diamond grading report contains information on identification, enhancements, carat weight, shape outline, measurements, color, clarity, and cut. A consumer can then utilize this documentation to insure the diamond for replacement in case of loss or theft.