Precious Stones for long term?

TexasNationals

On the small "if" we don't have a complete and total global financial collapse, and I mean small as it seems inevitable now almost, would precious stones be a good buy now? As of right now, diamonds, like the 1.1 carat VS-1 solitaire my wife "wasn't my wife then, but got suckered in, pushed around, beat up.... seem like a bargain even though I got ripped off by my "friend" who was a diamond broker. After learning a few things by being in the ring 8 rounds I know a little and stones seem like a bargain compared to say 2007-2008 prices and from what I have researched, a bargain historically. So would it be a sound investment idea to buy high quality, nice size diamonds, rubies, emeralds and other rare mother earth stones for the rich to buy if and when the economy recovers, and I mean really recovers, not like the fake, gov't backed and hidden recovery now. If we can truly get back to the "good times" would I e happy with my decision now. Let's just assume I can stack no more gold/silver/platinum/palladium/copper/aluminum/sheet metal and break dust? Also if the SHTF, and I mean really hits, not the misting we have now, do stones have any barter/trading.selling ability in real crisis's or is it better to buy cotton so I can sell it to the gov't as they will need it to print the next 100 gazilliontrillionbillionmillion dollars to attempt to destroy the last 1% of faith in the dollar as we stage ourselves to lose our global currency status to the Ethiopian Birr (Seems they have a better chance than we do at this point) as they become the next global currency? What are your thoughts?- TN

Yukoncornelius1

I've always heard that the world's diamonds are controlled by a cartel and if they let loose what they are sitting on the prices would crash.

Of course the highest quality stones are much harder to come by but I have also heard that they can now manufacture flawless diamonds which are nearly impossible to tell from the real thing. Any input from someone more familiar with gemstones than me would be appreciated.

DoubleEagle59

I've been a gemologist since 1982 and have basically been in the business till 2005.

I would not recommend buying diamonds or precious stones for an investment.

Historically, gemstones was an easy and quick way for wealthy families to flee their country especially in Europe when governments and ways of doing business changed from week to week.

I think we're a little more stable here in North America.

Pokermandude

Even besides the fact that the supply of diamonds is controlled by a monopoly, diamonds and other stones just aren't fungible like silver and gold are.

Mission16

No.

DrBuster

Emeralds on the cheap are entertaining to me....

ricko

Precious stones are only really profitable to the distributors and jewelers..... try selling some stones....unless you are selling to the vastly uninformed, there is no profitable market. Cheers, RickO

yellowkid

The diamonds game is a rigged market. I suppose that if you were really hip to it, that you could do something there, but most of us aren't. Why bother when the gold and silver markets are so cut and dry, so easy to follow.
Ever try and sell a jeweler back an engagement ring? It's a good investment for him