I realize that the engagement is a very important day and that the ring is an important part of that -- it is symbolic. We have, however, not been able to redress concerns about diamonds. Though we know there are such things as conflict free diamonds, and Canadian diamonds, Kimberly Process etc., that does not fully satisfy us. The principle concerns that we have are:
1. Diamonds are still involved in creating conflict, funding groups in the DRC, Central Africa and other places in Africa. Buying diamonds does increase the demand for these gems, no matter where you buy them. We haven't fully figured out what our position should be on this, but now it is almost too difficult to buy a diamond, as it is a luxury, not a necessity, knowing that we might indirectly also contribute to conflict. I have read arguments (largely industry supported) that debunk this, but still, these gems are kept precious through supply controls, keeping prices high that lead people to fight and kill each other for them. If big diamond firms satiated demand on the market prices would drop and the power and profit that leads to this situation would be mitigated.
2. The "Need" for a diamond, and this tradition for them has been recently been engineered by diamond consortia. Buying a diamond seems like it may perpetuate this engineered social norm. Diamonds are beautiful but their price is highly inflated. It seems quixotic for us, two students who do not have much money to spend money on one. Knowing that there are drawers full of diamonds sitting just to keep supply limited and that the demand for them has been built through careful social engineering, I cannot bear to contribute, or to perpetuate these artificial price manipulations.
Another option that we have explored is what about alternatives to diamonds, other precious stones? Having studied geology in my undergrad, I knew that there were a few gems that would be almost as hard as diamond, such as corundum, agate/chalcedonies or quartz (Mohs 6.5-7 or so, if memory serves). They, mightn't cleave as beautifully as diamond, but I do presume that they could be cut to be quite nice, but these gems are not generally by-products of mining (so somewhat more environmentally friendly), are not price-controlled and do not contribute to conflict. So, they satisfy those concerns and ultimately would serve the symbolic intent of a ring. There is, however, desperately few such rings on the market. A few birth-stone types, but strangely few people seem to buy such rings, and few seem to buy or sell them for engagements, nor for a wedding ring. We may just end up with bands, hopefully from recycled metal, but for the moment we are looking at a couple of online vendors who provide such stones on wedding like settings. We will report what we find.