RJ Market Watch
CROWNING GLORY The Queen owns the world’s biggest diamond and it’s worth millions
The monarch is the proud owner of the Cullinan Diamond, which weighed a whopping 3,106 metric carats before it was cut.
The giant diamond, sometimes referred to as the First Star of Africa, was discovered in South Africa in 1905, and was named after the mine’s owner, Thomas Cullinan.
After the rare stone was found, it was presented to King Edward VII in 1907 by the Government of the Transvaal, in a bid to heal rifts after the Boer War.
The King received the diamond for his 66th birthday, and was so afraid the stone would be stolen he arranged for a decoy to be delivered.
The impressive stone was expertly cut, and produced nine large diamonds, referred to as Cullinan I, II, III – all the way to number nine.
Despite the original stone being split into nine numbered diamonds, and other fragments, each is still worth millions.
Cullinan I alone is estimated to be 530 carats and worth a staggering £40.9 million.
Following King Edward’s death in 1910, King George V had the largest stone, Cullinan I, set into the Sovereign’s Sceptre, which dates back to 1661.
But the diamond is so heavy the 17th century sceptre, which the Queen held for her coronation in 1953, had to be altered to accommodate it.
The Royal Collection Trust said: “The diamond is so large that the sceptre had to be reinforced to take its weight.
“Nevertheless, the structure which holds the diamond is hinged, so the stone can be removed and worn separately if desired.”
Meanwhile, Cullinan II was added to the Imperial State Crown, which the Queen wears at the state opening of parliament.
The Crown Jewels are kept at the Tower of London, but the Queen also has more fragments in her personal collection.
With Clarity said: “As far as the other cuts from the Cullinan diamond are concerned, Queen Elizabeth II holds a private collection inherited from her grandmother, Queen Mary, with seven of the major cuts and 96 minor cuts.”
Courtesy: THESUN
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