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Diamonds became scare by the diamond mining companies. They mine a bunch, and keep them locked up hidden. The whole diamond engagement ring scam was created for guys to buy the diamond and women to love the diamond. The better value are/ where always jems. But thanks to marketing, its the diamond
So where is that?
Semi precious stones are actually rarer than diamonds.
I read some where a while ago how gems like jade were the more value because of its beauty (not financial value). Where as a diamond is clear. It has to be cut a certain way in order to make it sparkle and be more eye apealing. Before diamonds were considered an engagement ring where a man would have to buy x amount of his salary, it would be gems the man would buy.
Allow me to translate, I speak Interwebs:
"Precious gemstones have always been a better investment vehicle than diamonds."