My great-grandmother's diamond

by Deborah Shrader
(North Carolina)

I recently had my ring stolen....it had been made from my great-grandmother's ring. I was given the larger 3/4 ct diamond and my parents made it into a basic 14K yellow gold ring-6 prong. I had gotten a loan on the ring a few years ago when I needed money, so the pawn shop had a record of it and they said it had 1 miner's cut. I am trying to figure out the value of the ring for insurance purposes because I never had an appraisal done. Can you possibly give me any idea? I know the diamond was at least 50 years old or more. Thanks for any help you can give me!

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Nov 16, 2009
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old miner cut diamond and ring insurance
by: Anonymous

Hi,
So sorry to hear that your ring was stolen....that stinks! Unfortunately, you may have difficulty recovering the cost of the ring, without having an appraisal from a certified jeweler to share with your insurance company. Even if you did, the ring probably wouldn't be worth more than $1,000-$2,000. Contrary to popular belief, diamonds do not retain their value over time.....they are like new cars...once you take them off the lot, they seriously depreciate. The other thing to be concerned about, if you are going to file a claim for your ring, with your home-owners's policy...is that they may raise your future premimums....thus, it may not be cost-effective to file a claim.

Julie

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