They say a diamond is a girl’s best friend, but there is much more to them than that. Next to gold, it is hard to think of another item that has been more valued throughout history.

A diamond is forever. Or so the commercial tells us. From little girl on, women are taught to love these beautiful sparkling gemstones, and to highly value diamond jewelry. What makes diamonds so special? Is it their rarity, their cost, their beauty? Or is it just what a diamond signifies to the world? For many people, it is a matter of personal taste and the reasons vary. What is undeniable is people seek out diamonds whenever they can afford to.

Diamonds are the only gemstones in the world that are created from just one compound: carbon. Carbon is a substance that is dark black when it is in its powdered form, and is the basic molecule that makes up all life on Earth. When it is affected by tremendous pressure and heat, carbon is transformed into a crystal clear substance, which was originally named diamond from the Greek word adamas, meaning unconquerable. When diamonds are produced under the Earth's crust, they are brought to the surface of the Earth via volcanic eruptions. It is estimated most of the diamonds in the world today are between one and three billion years old. Over 80 percent of diamonds that are mined are not suitable for jewelry. These diamonds are used in other applications such as machinery, lasers and cutting saws since diamonds are the hardest substance on Earth.

The most expensive piece of diamond jewelry cost $16,548,750 – for a total of 100 carats. The largest diamond ever found and cut, however, was far larger than that. The Cullanan weighs in at 3106 carats, and adorns the scepter of King Edward VII of England. It is currently housed in the Tower of London.

The first ever diamond engagement ring was given in 1477, as a gift from Archduke Maximillian of Austria to his fiancée. The diamond engagement ring is traditionally worn on the third ring of the left hand because ancient Egyptians believed that a vein ran from this finger directly to the heart.