One of the World’s Rarest Red Diamonds Goes on Display

The Winston Red, an extraordinary and exceptionally rare diamond

The Winston Red, an extraordinary and exceptionally rare diamond, is now on show to the public — making it the only known pure red diamond of its kind currently on display anywhere in the world.

Weighing 2.33 carats, it holds the distinction of being the fifth-largest pure red diamond known to exist. To put that into perspective, fewer than two dozen red diamonds over one carat have ever been recorded, making this a truly exceptional stone.

It’s now on exhibit at the Smithsonian National Museum of Natural History in Washington, D.C., as part of a special showcase of natural coloured diamonds.

A team from the Gemological Institute of America (GIA), working alongside experts from the Smithsonian’s Department of Mineral Sciences and the Paris School of Mines, have conducted an in-depth examination of the gem.

GIA’s president and CEO, Susan Jacques, called the Winston Red “one of the most exquisite gems on Earth,” noting its intense deep-red colour and fascinating history. Red diamonds are incredibly rare, and among the more than one million coloured diamonds studied by GIA, a mere 0.07% were red — and just over half of those qualified for the elite ‘Fancy red’ grade awarded to the Winston Red.

Through advanced research, GIA scientists have identified the diamond’s colour origin and believe it likely came from either Brazil or Venezuela.

Tom Moses, GIA’s executive VP and head of research, shared his personal connection to the stone, having first examined it back in 1987. He recalled its striking deep red hue and historical significance — a diamond once sold by Jacques Cartier in 1938 to the Maharaja of Nawanagar.

The Winston Red is now the star attraction in a new exhibition at the Smithsonian, which features 40 other rare coloured diamonds from the Winston Fancy Color Diamond Collection. The collection was donated by Ronald Winston, son of legendary jeweller Harry Winston.

This exhibition is a rare opportunity to witness one of nature’s most elusive and captivating treasures — a true celebration of colour, history, and craftsmanship.

SEC Cracks Down on ICO That Offered Investors Colored Diamonds

The ICO that was promoted as a game-changer on the diamond market faces a dramatic fall from grace.

The U.S. Securities and Exchange Commission (SEC) has pulled the plug on a $30 mln cryptocurrency Ponzi scheme called Argyle Coin. The company, which promised to turn fancy colored diamonds into globally accessible assets, defrauded more than 300 investors.

No diamonds for you

Who told you that colored diamonds are only for ultra-rich individuals? Argyle Coin allowed the average Joe to invest in one of the rarest diamonds in the world. The project was presented as a Blockchain-powered marketplace for trading these precious rocks.

According to the SEC’s press release, Argyle Coin was nothing more than a Ponzi scheme that defrauded new investors in order to pay returns to the old ones. On top of that, Jose Angel Aman, the man behind this scam, used investors’ funds in order to enrich himself (he bought real estate and horses). Overall, those who wanted a piece of luxury ended up losing $10 mln.

As alleged, Aman operated a complicated web of fraudulent companies in an effort to continually loot retail investors and perpetuate the Ponzi schemes as well as divert money to himself,” said Eric I. Bustillo, Director of the SEC’s Miami Regional Office.

Old story, new names

Argyle Coin was supposed to offer its clients a ‘risk-free’ investment opportunity given the ICO is backed by over $25 mln of fancy colored diamonds that are securely stored in the London-based Malca-Amit vault.

Notably, prior to Argyle Coin, Aman had managed to pull off two similar scams – Natural Diamonds and Eagle. Aman was charged with violating securities law antifraud provisions.

Source: u.today