On January 26, 1905, in Pretoria, South Africa, Captain M. F. Wells found a diamond weighing one and one-quarter pounds. Two years later, the diamond was purchased and presented to King Edward VII of the United Kingdom. In 1908, a diamond cutter from Amsterdam cut from that diamond the Star of Africa, the largest cut diamond in the world, containing seventy-four facets with a weight of 530 carats. Today, the diamond is still set in the British Royal Scepter. Can you imagine the value of such a jewel?

Then there is the Hope Diamond: the largest blue diamond in the world. It weighs in at 44.4 carats. Found in India during the seventeenth century, it has been displayed, since 1958, at the Smithsonian Institute in Washington, D.C. At that time it was worth between $700,000 and $1,500,000.

Bu…