September 08, 2022

RIP Queen Elizabeth: Now What Will Become of the Most Fabulous Private Collection of Diamonds in the World?

Her Royal Britannic Majesty Queen Elizabeth II of England, Scotland, Wales, and Northern Ireland, as well as the many commonwealth countries, died peacefully today in her residence at Balmoral, Scotland, at the age of 96, over 70 years since her coronation; the longest reigning monarch in British history. She was also one of the most beloved Monarchs to ever reign and was a symbol of stability and thoughtful restraint in era after era of a more and more rapidly changing world. Indeed, history will be recorded in many places with “before and after Queen Elizabeth II,” and not just in the annals of Buckingham Palace and the Palace of Westminster. A visible link to Britain's Imperial past, she was the only monarch for generations of her country and the most visible representation of that system in a modern age for the rest of the world.

Crowned when Winston Churchill was still Prime Minister and Britain and the world were still reeling from the effects of World War II, she has reigned through a greater quantity and varied nature of events and national and global, and personal, experiences than almost any leader in the history of the world.

“We are all devastated,” Queen Elizabeth was “the rock on which modern Britain was built,” said British Prime Minister Liz Truss. Within minutes of the release of her departure from this world, crowds of mourners had already begun singing “God save the Queen,” in front of the gates of Buckingham Palace, where palace officials, dressed in formal attire, posted the notice on the gates.

Britain’s Royal House of Windsor, the current royal family, is the only remaining European monarchy to continue royal investiture with a coronation ceremony. This state pageantry, which has not been witnessed by generations of British people, is imperative to sustaining the monarchy’s role and power. A role, and power, that Queen Elizabeth II redefined throughout her long reign.

And make no mistake, the influence she had upon her county, and the world’s affairs was enormous. Her reign spanned over 15 Prime Ministers, and 14 US Presidents. Britain will now observe a 10-day period before her funeral, and then afterward at some point the coronation of her son Charles, to the throne. The question now is, how much influence will her son, King Charles III have?

At Michael Gabriels, we are jewelers and have nothing to say on the topic of King Charles III’s future reign. But during his coronation, about 3000 diamonds are likely to be placed upon him.

That’s because Queen Elizabeth II had one of the world's most extensive, varied, brilliant, and oh-so-fabulous collections of diamonds. The collection has never been insured, so likely it had not been audited either. However many sources estimate it to be more than $4 Billion and contain some of the largest, rarest, and most storied diamonds in the history of the world.

The Imperial State Crown of England, for example, has 2,868 diamonds, with a couple of dozen other gemstones and pearls thrown in for good measure.

The Royal Collection and Coronation Jewels include several other crowns and tiara’s, few of which have less than several hundred diamonds. Queen Elizabeth II was also known for wearing innumerable brooches and necklaces of inestimable value, such as The Cullinan V Heart Diamond Brooch. One of the largest heart-shaped diamonds in the world, the 19 carat Cullinan V was cut from the 3,106 carat Cullinan Diamond, one of the largest diamonds ever found and spectacular not only for its size and clarity but blue-tinged white color. It is a royal heirloom, originally designed for Queen Mary in 1911.

The St. Edwards Crown is one of the most famous of the Crown Jewels. With 444 precious and semi-precious stones, the value of this crown rises to mor than $39 million. But it is the nearly 5lbs of gold, estimated at over $100,000, which makes this piece so impressive.

Queen Elizabeth II was always known for having a sense of humor, and a positive attitude. She joked when interviewed by Smithsonian Magazine, remarking about the cumbersome crown that “You can’t look down to read the speech, you have to take the speech up… because if you did, your neck would break and it [the crown] would fall off.”

Thankfully, that's not how she died.

Queen Elizabeth will be very missed. The Crown Jewels are the property of the reigning monarch and consort, and therefore will be inherited by Charles. The rest of her legacy will be divided amongst the hearts of her subjects, and those who loved and respected her from across the world. A Queen whose life had a great positive impact, perhaps we will see from this tragic loss some more positive influence on the world’s stage. May her glittering and sparkling past be a light for us now walking into a future without her.