So you've inherited a beautiful old piece of Jewelry right out of the
early 1900's.
You know it's old, because it was your dearly departed Grandmother's Diamond Ring.
Now it's yours!
First off, there are no stamps or markings inside the ring to tell you what type of metal it is.
Second, it has some small Diamonds in the side that look like they're rounded off.
And third, the Diamond in the center isn't exactly round and it has what looks like a "bullet hole" in the center of it. (See picture) So there's no question whatsoever that it's old.
Besides being old and outdated, the prongs are broken, worn, the mounting's bent, the shank is thin. You can't wear it like it is.
So the big question is: Should you remount it into something modern and new, or just leave it alone? It all boils down to 2 things:
Cost and Risk!
Cost, because a new mounting won't be cheap. Normally Diamond Mountings can run on average of $500 and up. It all depends on how elaborate, how much metal, and how many Diamonds you want in it.
I know, I know, you'd like to reset those small heirloom Diamonds also, but trust me, you don't want to go there.
Those small Diamonds are just not worth it. The cost of resetting them would be more than they're worth. Usually up to $100 per stone to reset. And chances are good those small Diamonds are not just Diamonds, but chips. I always tell people, unless the side Diamonds are large, forget them. Reset the center large Diamond only! Keep the small Diamonds in the old mounting and hang on to it for sentimental reasons.
Grandma would want that!
Now as far as the center Diamond goes, keep in mind, not all Diamonds can be reset. There's always a risk.
Risk
Plus, the older the Diamond, the bigger the risk. Why? Because that Diamond more than likely has gone through a lot of wear and tear. Old Mine Cuts, or Old European Cut Diamonds, (bullet-hole Diamonds) usually have little chips and breaks taken out of the Girdle. After so many years, those chips will circle around the outer edge of the Diamond.
You can even feel them with your fingernail. Run your nail around the outer edge of the Diamond. Do you feel those little nicks? That's a Bearded Girdle!
Chipped Girdles
A Diamond with a Chipped Girdle makes it very hard to reset. Applying too much pressure to those chipped areas can cause your heirloom and precious Diamond to bust. Jewelers have to be very careful and very cautious when resetting. It's always a risk!
My Advice?
Make sure you insure the heirloom and make sure the appraisal is up to date FIRST! That way, if something does happen to the Diamond, insurance will cover it.
All in all, it just depends on how big the diamond is and if it's worth it. If the Diamond is .75 Carats or bigger, I'd say go for it.
If you don't like the "bullet hole" look, you can always get her Diamond recut into a modern Brilliant Cut Diamond. It'll make her Diamond a little smaller, but it'll look awesome and new.
Lastly, don't forget to get it re-appraised after you have it reset. You'll want a new appraisal in the new mounting. Grandma may be gone, but her Diamond has never looked so good!
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