DiamondBuzz
Lost Florentine Diamond Resurfaces in Canada After a Century, Tracing Its Glittering Origins to India’s Golconda Mines
Once a royal treasure of the Medici and Habsburg dynasties, the 137.27-carat gemstone reemerges in a Montreal vault, reaffirming India’s Golconda as the cradle of the world’s most storied diamonds.
The legendary Florentine Diamond — a 137.27-carat light yellow gemstone believed to have originated from India’s famed Golconda mines — has been rediscovered in a Canadian bank vault, ending over a hundred years of intrigue surrounding its disappearance.
According to recent reports, the diamond—once among Europe’s most celebrated royal jewels—was located in a vault in Montreal, safeguarded for decades by descendants of the Austrian imperial Habsburg family. The gemstone vanished after the fall of the Austro-Hungarian Empire in 1918, following Emperor Charles I’s exile, sparking decades of speculation over its fate — whether it was stolen, lost, or secretly sold.
Historians now confirm that Empress Zita, widow of Charles I, discreetly transferred the diamond to Canada during World War II for safekeeping. Its authenticity was recently verified by a European jewellery house that historically served the Habsburg court, confirming the gem’s provenance and preservation.
Renowned for its pale yellow hue and unique double-rose cut with 126 facets, the Florentine Diamond boasts a storied history — from its origins in India’s Golconda mines, to the Medici treasury in Florence, and later as part of the Austrian Crown Jewels in Vienna.
Its rediscovery has reignited global fascination with India’s gem legacy, which gave birth to other iconic diamonds like the Koh-i-Noor, Hope, and Nassak. Experts say the find underscores the importance of provenance and gem heritage in an increasingly globalised jewellery market.
The Habsburg family has announced plans to publicly exhibit the diamond in Canada next year, with potential displays in Europe to follow.
After more than a century of obscurity, the reemergence of the Florentine Diamond not only restores a lost royal masterpiece but also revives India’s enduring connection to the world’s most illustrious jewels.
In a clear sign of the growing strategic importance of lab-grown diamonds for technological applications, the Spanish government has committed a massive EUR 750 million (approximately $813 million) investment to Diamond Foundry’s new manufacturing plant in Trujillo.
This significant funding injection is specifically earmarked for the production of semiconductor-grade, lab-grown diamonds. It dramatically boosts the project’s war chest, adding to the initial EUR 80 million in funding that the European Union had already pledged last December.
The Trujillo facility is poised to become the largest of its kind in Europe, specializing in high-tech, industrial, and semiconductor-grade diamonds.
- Projected Output: When operations begin—anticipated sometime between 2027 and 2029—the plant is expected to yield over 4 million carats annually, with production slated for substantial increases thereafter.
- Total Project Value: The full cost of the Trujillo project is reported to be a staggering EUR 2.35 billion.
This monumental investment underscores a key trend in the lab-grown diamond sector: a heavy pivot away from the jewelry market and toward high-value industrial and technological applications.
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JewelBuzz is Asia’s First Digital Jewellery Media & India’s No.1 B2B Jewellery Magazine, published by AM Media House. Since 2016, we’ve been the trusted source for jewellery news, market trends, trade insights, exhibitions, podcasts, and brand stories, connecting jewellers, retailers, and industry professionals worldwide.