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According to this year’s The Real Weddings Study by The Knot, the average engagement ring in this country costs about $6,163. That’s up from $5,095 in 2011.
Who could spend $6,000 for this “average” ring? The real question is this: Why spend money on a diamond ring in the first place?
Diamonds Are Forever, But Not That Savvy
Diamonds are not a good investment. Like most retail items, diamonds lose half their value the moment you walk out of the store (unless you buy bonded diamonds). Don’t believe me, just try to re-sell your diamond later.
Diamonds are out! Welcome the Moissanite stone – because an engagement ring made of Moissanite could help pay your honeymoon!
According to an article on CNBC.com, Millennials are increasingly turning to substitutes, like lab-grown diamonds and sapphires. Colorless “white sapphires” can make a good diamond substitute. Actually, rubies and sapphires are both corundum crystals; rubies and sapphires just have different coloring elements.
A white sapphire from The Natural Sapphire Company can be more than 80 percent cheaper than a diamond of the same size and cut! But a gemologist would quickly tell you that – among other things – sapphires will sparkle less than diamonds.
So, what’s more sparkle worth to you?
But what if I told you that there’s a stone that costs less than sapphires, is more brilliant than a diamond, and whose price difference could pay for your reception hall?
Say “I Love You” With Moissanite.
Geologically, Moissanite is silicon carbide and seldom occurs naturally. But lab grown Moissanite rates about 9.25 on the Mohs scale - almost as hard as diamonds. Moissanite is so similar that a jeweler’s electronic diamond tester will register Moissanite as a diamond!
Last year, CBSNews.com reported that a Kay Jewelers store was accused of stealing diamonds off a client’s ring and substituting Moissanites – a clever fraud given that the two stones are so hard to tell apart.
Moissanite vs. Diamond
Moissanite also has a higher refractive index (“sparkle”) and dispersion (“fire”) than diamonds. Translation: unlike white sapphires, Moissanite stones sparkle more brilliantly than diamonds!
What does this mean for you? A Charles & Colvard Forever One Moissanite - round, one-carat, and colorless (or “D” on the GIA Diamond scale) - sells for about $600. On the website of Helzberg Diamonds, I found a round, one-carat, slightly included, colorless (“D”) diamond for $7,000!
We're talking about a stone that anybody - including a jeweler, your mother-in-law, or even the snobbiest of "frenemies" - will think is a diamond. But at a fraction of the cost. A wedding ring that saves you enough for a honeymoon or the wiser investment of a home down-payment.
Of course, couples should decide this together. But a Moissanite engagement ring would save you thousands! That extra money could help pay for the wedding, the honeymoon, or…help put a down payment on a house.
Diamonds might be forever, but Moissanite stones are ingenious. Thank you, science!
By H. Shive
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Hello! My name is Heath Shive, content manager at ScholarFox. I'll be the author of most of the blog posts. I'm a former geologist and currently a freelance writer. The world is complex and seemingly crazy. Good! Because when you love to learn, you'll never be bored.