What Diamond Was Lost? The Legendary History and Worth of the Hope Diamond
Dear reader, are you familiar with the ill-fated history of the legendary Hope Diamond? This brilliant blue 45.52 carat gemstone has inspired intrigue and obsession for over three centuries. But what diamond was actually lost to history, and how much was this remarkable relic worth back in 1912?
As an investment analyst, I‘ve dug deep into the financial history and mythos around this singular diamond. Read on for the true tale of the lost French Blue that became the elusive Hope, its estimated nine-figure value in the early 1900s, and how this priceless jewel eventually found its home in the Smithsonian.
The Original French Blue Diamond Vanishes During the French Revolution
Our story begins in India, where an incredible 115 carat blue diamond was mined from the Kollur mine in the mid-17th century. The crudely cut gem was purchased in 1666 by French merchant Jean-Baptiste Tavernier, then sold in 1668 to King Louis XIV of France. Recut to 67 carats, it was named the "French Blue" and placed among the French Crown Jewels.
This is the diamond that was eventually lost, disappearing without a trace during the chaos of the French Revolution in 1791. Looters raided the Royal Treasury and stole much of the Crown Jewels, including the immensely valuable French Blue. Some believe it was smuggled to London for a rich buyer. Others think the thieves didn‘t know its true value and accidentally discarded it. Whatever the truth, the original French Blue was lost to time for over two decades.
The Hope Diamond‘s Murky Origins and Recutting
In 1812, a 45.52 carat blue diamond appeared in the collection of London banker Henry Philip Hope. While much smaller, jewelers confirmed it matched descriptions of the old French Blue. But with no records of its whereabouts from 1791-1812, the mystery remained – had the French Blue been recut and sold in secret?
Most experts today believe the Hope Diamond is in fact the French Blue, just cleverly recut sometime during its disappearance to disguise its identity. Both shared the same rare steel-blue color and phosphorescence under UV light. It was likely trimmed down to remove identifying marks or increase its sale value.
Some speculate it was held secretly for years in the collection of Henry Philip Hope himself, from whom it gained its new moniker. However we may never fully unravel the lost history of the Hope during its 20 missing years. The complex recutting job destroyed many clues to its origins while giving the diamond a new life.
The Hope Diamond‘s Worth Soars Alongside Its Notoriety
As the diamond passed through more high-profile owners over the 19th century, stories spread about a "curse" bringing misfortune to those who possessed it. This mysterious reputation only enhanced its prestige and value.
By 1908, Cartier documents show an estimated value of $150,000 to $200,000 for the Hope – over $3-4 million today! When Washington socialite Evalyn Walsh McLean purchased it in 1911 for $180,000, some claimed she was fleeced.
Yet McLean herself also perpetuated the Hope‘s notoriety, linking it to historical tales of royalty, tragedy and intrigue. As its mythical status grew worldwide, so did its perceived worth.
The Hope Diamond‘s Immeasurable Value in 1912
So what was the Hope Diamond actually worth at the height of its fame in 1912? Contemporary estimates valued the stone at 1-2 million francs, around $10-20 million in modern dollars.
But in truth, its monetary value was almost beside the point. The Hope had become more than a precious gem – it was an artifact of legend. High society families, museums, and wealthy collectors would have paid almost any premium just to own this singular diamond of nearly mythical status. Its flawed blue color was secondary to its unparalleled history.
By 1912, the Hope Diamond was simply priceless – a relic of the ages that no private owner could ever truly possess. Its long-consumed French Blue origins only added to its mystique. Like the lost treasures of antiquity, its worth was in its enduring tales and the passions it inspired.
The Hope Diamond Timeline – A brief history of ownership
1660s – Mined in India, purchased by Jean-Baptiste Tavernier
1668 – Sold to King Louis XIV of France, recut to 67 carats
1774 – Appeared in writings of French gemologist Jean-Baptiste Champollion
1791 – Stolen from French Royal Treasury during revolution
1812 – Resurfaced in London, now 45.52 carats and owned by Henry Philip Hope
1839 – Sold to Henry Thomas Hope
1901 – Purchased by Washington D.C. socialite Evalyn Walsh McLean for $180,000
1958 – Donated by Harry Winston to the Smithsonian Institution
The Hope Diamond Finds its Home at the Smithsonian
After changing hands through several more high-profile owners, the Hope Diamond was finally donated to the Smithsonian National Gem Collection in 1958 by esteemed jeweler Harry Winston. The Smithsonian considered the Hope to be one of the rarest and most valuable objects they had ever acquired.
Today, the Hope Diamond remains on permanent display at the National Museum of Natural History in Washington, D.C. Smithsonian gemologists have carefully studied its properties, debunking many myths but confirming its identity as the recut French Blue.
So now you know the true story of this legendary stone: the French Blue diamond lost for decades only to reemerge as the institution-defining Hope. Treasure this tale as you marvel at the Hope Diamond gleaming blue in its rightful place among America‘s crown jewels. The lost diamond‘s long journey now complete, its history secure for centuries to come.