Gem diamonds are diamonds with color and clarity that make them suitable for jewelry or investment use. These diamonds are rare and make up a minor portion of worldwide diamond production. Gemstone diamonds are sold for their beauty and quality.

Natural diamond crystals have a specific gravity that ranges between approximately 3.4 to 3.6. This range exists because most diamonds contain impurities and have irregularities in their crystal structure. Gem-quality diamonds are the most perfect diamonds, with minimal impurities and defects. They have a specific gravity that is very close to 3.52.

Industrial diamonds are mostly used in cutting, grinding, drilling, and polishing procedures. Here, hardness and heat conductivity characteristics are the qualities being purchased. Size, clarity, color and other measures of quality relevant to gemstones are not as important. Industrial diamonds are often crushed to produce micron-sized abrasive powders. Large amounts of diamonds that are of gemstone quality but have a shape or size that cannot be profitably cut enter the industrial diamond trade.

Diamond Consumption in the United States

In 2018, imports of diamonds into the United States for consumption totaled about $26 billion. Imports for consumption of all nondiamond gemstones totaled about $2.0 billion. These statistics clearly show that diamond is the most popular gemstone with U.S. consumers by an enormous margin. The United States accounted for about 35% of the world’s diamond consumption, making it the leading diamond consumer.