|The famous Jacob Diamond of Indian origin.www.glitteringstones.com|
The famous Jacob Diamond, ranked fifth in the world, is a large diamond once owned by the Nizam of Hyderabad, India and currently owned by the Government of India. It was valued at £100 Million in 2008. The Indian government became the owner when Hyderabad joined the Indian Union soon after India's independence in mid 1947.
Originally the uncut diamond weighing 400 carats, was cut to size subsequently in Europe. The Nizam of Hyderabad Mahboob Ali Khan
After the death of his father, the last Nizam, Osman Ali Khan, accidentally found the Jacob Diamond in the toe of his father’s shoe at Chowmahalla Palace. The Nizams never understood the value of Jacob diamond and the last Nizam himself used it as a paper weight for a long time. When somebody drew the attention of the Nizam about the true worth of the diamond, he subsequently kept it in the safe vault of Chowmahalla Palace along with other valuable jewels as part of Nizam's treasures.Despite the litigation and the legal wrangles, the Indian government purchased the Jacob diamond for a sum of $13 million in 1995, along with other Jewels of the Nizams, and is held at the Reserve Bank of India, Mumbai.
Incidentally, unlike many famous diamonds that have had violent background - murder, fluctuating fortunes, illness, etc of the owner, this diamond changed hands a couple of times and had no sensational or mysterious stories in the backdrop. Nor did it carry Hindu temple priest's curse or bad luck.
This diamond of Indian origin, first discovered in 1884, has a rectangular cushion-cut, colorless with 58 facets, and measures 39.5 mm long, 29.25 mm wide and 22.5 mm deep. Now it weighs 184.5 carats (36.90 g).