Planet Money Planet Money buys a mystery diamond
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Mar 26, 2025 A team buys a mystery diamond online for $137, diving into the excitement and skepticism surrounding their purchase. They put the gem to the test at the Gemological Institute of America, discovering it's authentic. The podcast explores the differences between natural and lab-grown diamonds, revealing unexpected insights into the diamond market. With humor and curiosity, they tackle the economics behind pricing, competition, and consumer perceptions, unraveling the complexities of this beloved yet enigmatic stone.
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A suspiciously cheap diamond
- Jeff Guo bought a diamond online for $137, significantly below typical retail prices.
- He shared this seemingly too-good-to-be-true purchase with Sarah Gonzalez to investigate the mystery.
At-home diamond tests
- Initial tests conducted by Sarah Gonzalez suggested the diamond might be real.
- It scratched glass, sank in water, and felt cool to the touch, aligning with diamond properties.
GIA Confirms Real Diamond
- Jeff Guo took the diamond to the Gemological Institute of America (GIA) for expert analysis.
- Dr. Ulrika Danens Johansson, using advanced equipment, confirmed the diamond's authenticity.