Jacob Diamond
{{Use dmy dates|date=February 2020}}
{{Use Indian English|date=February 2020}}
{{Short description|Colorless diamond from India}}
{{Infobox diamond
| image = Jacob Diamond.jpg
| caption =
| name = Jacob Diamond
| carats = 184.5
| grams = 36.9
| color = Colourless
| cut = Rectangular cushion-cut
| mine = Golconda
| country = {{flagicon|India}} India
| cutter =
| found = 1884
| original_owner = The Nizam of Hyderabad
| owner = Government of India
| value = £100 million (2008)
}}
The Jacob Diamond, also known as the Imperial or Victoria Diamond, is a colourless diamond from India (or from the Golconda mines){{cite book|title=Responsible Tourism & Human Accountability for Sustainable Business|url=https://books.google.com/books?id=YMLnCwAAQBAJ|publisher=Zenon Academic Publishing|page=129|year=2016|isbn=9789385886010|access-date=7 October 2022|archive-date=7 October 2022|archive-url=https://web.archive.org/web/20221007153549/https://books.google.com/books?id=YMLnCwAAQBAJ&|url-status=live}} ranked as the fifth-biggest polished diamond in the world.{{cite news| title=India finally settles £1million Nizam dispute| url=https://www.telegraph.co.uk/news/worldnews/1584818/India-finally-settles-1million-Nizam-dispute.html| first=Rahul| last=Bedi| date=12 April 2008| newspaper=The Daily Telegraph| location=London| accessdate=3 March 2018| archive-date=11 April 2019| archive-url=https://web.archive.org/web/20190411234313/https://www.telegraph.co.uk/news/worldnews/1584818/India-finally-settles-1million-Nizam-dispute.html| url-status=live}}{{cite web| title=The Victoria| url=http://famousdiamonds.tripod.com/victoriadiamond.html| publisher=Famous, Historic and Notable Diamonds| access-date=5 June 2006| archive-date=1 March 2019| archive-url=https://web.archive.org/web/20190301140259/http://famousdiamonds.tripod.com/victoriadiamond.html| url-status=live}} The last nizam of the Hyderabad State, Mir Osman Ali Khan, found the diamond in the shoe of his father (Mahboob Ali Khan) at Chowmahalla Palace and used it as a paperweight for a long time. It was bought by the government of India for an estimated $US13 million in 1995. It is cut in a rectangular cushion-cut, with 58 facets, and measures {{convert|39.5|mm}} long, {{convert|29.25|mm}} wide and {{convert|22.5|mm}} deep. The diamond weighs 184.75 carats (36.90 g). Currently, it is kept at the Reserve Bank of India vaults in Mumbai. As part of the Nizam's jewellery exhibition in 2001 and 2007, the Jacob Diamond was a major attraction at Salar Jung Museum, Hyderabad.
Unlike the famous Koh-i-Noor, the Jacob Diamond has changed hands only twice in the history of its existence and has not been associated with violence.
History
Before it was sent to Europe to be cut, the uncut diamond is believed to have been over {{convert|400|carat|g}} in weight.{{Cite web|last=Srivastava|first=Ahana|date=2019-04-29|title=10 Interesting Facts About The Diamond That's Bigger Than The Kohinoor|url=https://www.scoopwhoop.com/culture/jacob-diamond-facts/|access-date=2021-03-29|website=www.scoopwhoop.com|language=English|archive-date=15 September 2021|archive-url=https://web.archive.org/web/20210915134826/https://www.scoopwhoop.com/culture/jacob-diamond-facts/|url-status=live}}
The diamond was put up for sale in 1891 by Alexander Malcolm Jacob, hence the name. It was offered to Mahbub Ali Khan (the sixth nizam of Hyderabad). Initially, the nizam was quite uninterested in the diamond and offered a mere 40 lakhs (4 million rupees) for it. The nizam was asked to make a good faith deposit if he was to go through with the transaction. The European jewel cutters did not like this offer but were forced into court when they lost track of the nizam's deposit. Ultimately, the nizam was awarded the diamond for almost half his original offer, 23 lakhs (2.2 million rupees, approx. $US50,000 at 2005 rates) when the case was resolved. Disillusioned by the process, and now considering the diamond to be unlucky, the nizam wrapped it in cloth and hid it away.{{Cite web|title=Diamond in a Shoe: The Jacob Diamond|url=https://www.livehistoryindia.com/cover-story/2019/04/21/diamond-in-a-shoe-the-jacob-diamond|access-date=2021-03-29|website=www.livehistoryindia.com|language=en|archive-date=14 March 2021|archive-url=https://web.archive.org/web/20210314070010/https://www.livehistoryindia.com/cover-story/2019/04/21/diamond-in-a-shoe-the-jacob-diamond|url-status=dead}}
Several years after the death of his father the last nizam, Osman Ali Khan, found the Jacob Diamond in the toe of his father's shoe at Chowmahalla Palace, and he himself used it as a paperweight for a long time until the diamond's true value was realized. Later, the family wished to sell the Jacob among other jewels, but the Government of India blocked the sale, citing that the jewels are a national treasure that could not be sold to foreigners.
After much litigation, the diamond was purchased by the Government of India from the nizam's trust for an estimated $US13 million in 1995, along with other Jewels of The Nizams, and is held at the Reserve Bank of India vault in Mumbai.{{Cite web|title=The world's largest diamonds|url=http://business.rediff.com/slide-show/2009/jun/15/slide-show-9-the-worlds-largest-diamonds.htm|access-date=2021-03-29|website=business.rediff.com|archive-date=15 September 2021|archive-url=https://web.archive.org/web/20210915134826/http://business.rediff.com/slide-show/2009/jun/15/slide-show-9-the-worlds-largest-diamonds.htm|url-status=live}}{{Cite web|title=One of The Largest Gems In The World, The Jacob Diamond|url=https://en.israelidiamond.co.il/wikidiamond/famous-diamonds/largest-gems-jacob-diamond/|access-date=2021-03-29|website=Israeli Diamond|date=10 October 2016 |archive-date=25 June 2021|archive-url=https://web.archive.org/web/20210625220623/https://en.israelidiamond.co.il/wikidiamond/famous-diamonds/largest-gems-jacob-diamond/|url-status=live}} The Jacob diamond along with jewels of Nizam were handed over by his descendants including Himayat Ali Mirza, and Mukarram Jah.{{Cite web|title=Himayat Ali Mirza raises voice against negligence, illegal encroachments towards Nizam's properties|url=https://www.daijiworld.com/news/newsDisplay?newsID=875626|access-date=2022-01-09|website=www.daijiworld.com|language=en|archive-date=18 November 2021|archive-url=https://web.archive.org/web/20211118194107/https://www.daijiworld.com/news/newsDisplay?newsID=875626|url-status=live}}
Displayed as part of the nizam's jewellery exhibition in 2001 and 2007, the Jacob diamond was a major attraction at Salar Jung Museum, Hyderabad.{{fact|date=February 2020}}{{Cite web|title=Heart In Diamond|url=https://www.heart-in-diamond.com/|access-date=2021-09-21|website=www.heart-in-diamond.com|archive-date=3 January 2022|archive-url=https://web.archive.org/web/20220103044917/https://www.heart-in-diamond.com/|url-status=live}}