$7500 Diamond Solitare ring lost in 1962, whats it worth now?

Smartin

Sr. Member
Feb 4, 2006
334
1
Kingston, Tennessee
$7500 Diamond Solitare ring lost in 1962, what's it worth now?

The story of the ring is true, I knew the woman that lost it, and I know where she lost it. The woman was a neighbor of my parents from 1955 to 1976.She recieved the ring for a special 10 yr anniversary gift in 1962.The anniversary party was held at the neighborhood boat dock. As the party progressed several began to swim off the dock as it was hot during July. The new reciepient of the ring also participated in the swimming.Her first dive off the dock proved to be the culprit of relieving her of her prized ring, as it had not been properly sized yet. For years many tried without any success to recover the ring.I'm not positive, but I believe it was a 2 carat diamond with very good grading ( as it was told to me over 35 years ago ).

The boatdock is on Watts Bar lake in Kingston,Tn. In the summer the water level on this lake is about 6 feet higher than it is in the winter. The water is completely below the dock area in the winter, so there is total access without having to do any under water seach. The dock area itself offers many possible rewards even without the diamond ring.I think the dock was built around 1950.My parents still live in this neighborhood, which all owners in this subdivision have ownership in this community boatdock as well. Permission to detect will not be required.

I just purchased the Minelab Quattro MP. I'm ready to find the long lost ring that was so momentarily cherished and so longly looked for.

I have many more prospective sites to explorer and detect, some with more lore and some with more face.

I'll be posting many more propositions soon and will be filling in on the finds!

Sweet Sailing ,Smartin
 

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Re: $7500 Diamond Solitare ring lost in 1962, what's it worth now?

Hi Smartin - I wish you luck. A lot of things can change in that many years. I would, obviously hunt the site, but the winter currents may have pushed that ring far away...hopefully not. Send some pics!

HH!
TBGO
 

Re: $7500 Diamond Solitare ring lost in 1962, what's it worth now?

i would say that its worth a whole lot more now. Good luck i hope you find it. I bet her husband was very mad that she lost the ring within minutes of recieving it as a gift.
 

Re: $7500 Diamond Solitare ring lost in 1962, what's it worth now?

SMartin! You are going to have that neighborhood packed with mder's for the next couple of weeks looking for that ring! :D

Good Luck!

Nana ;)
 

Re: $7500 Diamond Solitare ring lost in 1962, what's it worth now?

Good luck in finding that ring. HH Burdie
 

Re: $7500 Diamond Solitare ring lost in 1962, what's it worth now?

Bryon,
I guess he probably was mad. I knew him well. In later years (1972) I used to go fishing with the him. He was one of the Kindest men I have ever known.( the wife was to an extent )

Smartin
 

Re: $7500 Diamond Solitare ring lost in 1962, what's it worth now?

TBGO,
Sorry, I tried to reply earlier, but I think it didn't go through.

I don't think the currents would not be much factor as to the locale. The dock is dry durring winter months and during summer when there is water it is 300 ft from the deep channel where the currents are mainly. The area around the dock is primarily river sand, so even with periodic water you still get the "quick-sand" suck. So we all know that a small dense object will very quickly find the subsurface bottom fairly quickly (assumming no current except for back wash). i believe the bottom subsurface to be around 20-24". I'll know for sure soon as good weather hits.

Smartin
 

Re: $7500 Diamond Solitare ring lost in 1962, what's it worth now?

The question was how much is it worth today? $75,000
Dano.
 

Re: $7500 Diamond Solitare ring lost in 1962, what's it worth now?

Dano,
Thanks for the answer. man you must have read my mind. I've tried to determine if jewelry (diamonds) have maintained inflation as well as gas has.I was thinking the same $75,000.

Smartin
 

Re: $7500 Diamond Solitare ring lost in 1962, what's it worth now?

Burdie,
It goes without saying- "Luck is better than Wealth"

Smartin
 

Re: $7500 Diamond Solitare ring lost in 1962, what's it worth now?

I spoke with a jeweler just before Valentines day, and he said, if I remember correctly, that the colorless ones were going for up to 8k a carat. So maybe they haven't kept up with inflation as well as we would've hoped... but 2 carats is 2 carats and I wouldn't kick it outta bed for eating crackers for sure! :D
 

Re: $7500 Diamond Solitare ring lost in 1962, what's it worth now?

Jeffro,
I'm not sure of the carat (maybe 2, maybe less, maybe more ). I am more sure of the value at the time which was $7500. Everybody in the neighborhood thought this was a huge chunk. I'd say the average house at that time was close to the same price.

Smartin
 

Re: $7500 Diamond Solitare ring lost in 1962, what's it worth now?

With a lot of patience you may just find it. I hope so!!! Vern
 

Re: $7500 Diamond Solitare ring lost in 1962, what's it worth now?

Southbound,
Thanks for the view. Thats' what its' all about, perseverance and alot of luck.

Smartin
 

Re: $7500 Diamond Solitare ring lost in 1962, what's it worth now?

I found an inflation calculator and here's the results.

"What cost $7500 in 1962 would cost $46314.08 in 2005. "

here's the calculator page

http://www.westegg.com/inflation/

of course the ring would also have antique value as well as any increase in diamond value, so I would say that $75K wouldn't be too high of a guess....maybe

Good luck finding it!!

HH
 

Re: $7500 Diamond Solitare ring lost in 1962, what's it worth now?

HH,
Thanks for the inflation calculation. The $75,000 was kinda a wild guess. I'd like to find it and know for sure!!

Smartin
 

Re: $7500 Diamond Solitare ring lost in 1962, what's it worth now?

Gee guys , you got me trembelin down here , I found a three caret cannary diamond in a garden years ago . What do ya think its worth ? maybe I can get that Excaliber after all. Take a flat scoop shovel and skim the top off after you have searched and search again till you find it. Good Luck Ps; I'm saving that one I found in case I get in the doghouse big time ,kinda of an insurance policy ya know!
 

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Re: $7500 Diamond Solitare ring lost in 1962, what's it worth now?

Suann...Pirate,

Great ring man. What you suggest is probably feasable since I know the general area within 50' x 50'. Still backwash current could be a factor after 44 years.

You've got the green mamba (joking) to take care of the other half!

Smartin
 

Re: $7500 Diamond Solitare ring lost in 1962, what's it worth now?

The ring was lost when there was water there so I assume that the bottom was fairly soft at the time ,the rings mass / density is more so than the bottom unless it is gravel or rock. So the ring by its design [big hole in the middle] will sink in the bottom quicker than a coin would. Being away from the main channel there should be no swift current to take it away. I dive the Suwannee river and it has quite a swift current and I find rings under rope swings all of the time and we have real big floods down here and the rings are still there. I bet you will have a ring for every finger and maybe your toes too if you shovel the overburden off each time you clear the area. Take a close friend with you to help so you can do it in a day. As soon as some people see what is going on you will have company .GO FOR IT- DON"T WAIT- IT WILL BE GONE Good Luck Bob
 

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