Is $1000 Enough for an Engagement Ring? Exploring Your Budget-Friendly Options

The ancient Egyptians and Greeks are sometimes credited with inventing the engagement rings. In Ancient Rome, the tradition of engagement rings became formalized in Roman law, where women wore rings with keys attached to symbolize ownership and commitment. 

The rings were likely made of bone, ivory, flint, iron, or bronze. In the middle ages, the Visigoth Code of the mid-7th century required that a promise made during an engagement ceremony could not be broken, even if it was not written down.

The diamonds were first found in South Africa in 1866 and the first diamond engagement rings was commissioned by Archduke Maximilian of Austria in 1477 for his fiancée Mary of Burgundy. After World War 1 and the recession time took place, the popularity of diamond engagement rings decreased in the United States.

Styles of an Engagement Rings

Engagement Rings Types

Solitaire engagement rings

The solitaire engagement rings has a single diamond or gemstone in the middle mounted on a band. Typically, the solitaire ring does not contain any additional diamonds or gemstones anywhere else, but sometimes this type of ring is also considered a solitaire ring, as the Centre stone will only be the focal point of the solitaire ring.

Halo engagement rings

The Halo engagement rings has a main center stone surrounded by small accent stones. It makes the center stone look bigger and sparkle. Halo rings are the most popular choice for an engagement today. Halo rings also have many types such as double halo, hidden halo, and cluster halo that adds an extra dazzling fire to an engagement rings.

Three stone engagement rings

Three stone engagement rings featuring 3 diamonds or gemstones represents the story of the couple's past, present and future. Also known as trilogy or trinity rings. Three stone rings became more popular from 2001 when De Beers introduced this design to the public. It is popular today for both engagement and anniversary as well.

Pave engagement rings

The word “Pave” comes from the Latin word “Pavare” which means to lay or cover. A pave set ring is a ring with tiny diamonds or Gemstones set with precious metals that creates a continuous shimmer enhancing the beauty of the center stone and making the entire ring shine more brightly. Pave rings can work well with modern or vintage-style rings.

5 Stone engagement rings

The five-stone engagement rings often represents the fifth anniversary, one diamond for each of the five years of marriage. The five-stone ring can be of any type, such as an engagement rings or a wedding band.

Vintage engagement rings

Vintage engagement rings is a ring that is between 20 and 100 years old. They are often appreciated for their unique designs that represent their era and fashion trends. They feature antique design elements such as migraines, filigree, and ornate details. Today, vintage-inspired rings combine timeless antique elements with a modern, unique twist and are becoming increasingly popular among couples for their engagement rings.

Diamonds We Can Use to Make an Engagement Rings

Diamond Types

Cubic Zirconia

Cubic zirconia is classified as a diamond simulant - a stone that looks similar to natural diamonds, but is made of zirconium dioxide. It is a very affordable diamond compared to natural diamond or lab grown diamond.

Gemstones

The gemstones were found by the Egyptians. Gemstones are generally rocks or minerals that are cut, polished and faceted to be used in jewelry. And the price of gemstones is determined by its clarity, rarity, beauty, and demand. Each gemstone has its own specialty.

Moissanite

Moissanite is a lab created gem that’s a very popular alternative to a diamond because of its durability, sparkling appearance and affordable price. First discovered in 1893 by French chemist Henri Moissan. It has a different brilliance and faceting pattern than diamonds. Natural Moissanite is very rare, so most Moissanite available today is lab-grown. Its hardness is 9.25 on the Mohs scale.

Lab Grown Diamond

Lab grown diamonds is a diamond produced in a lab with chemical processes that is as valuable as the diamond mined from the earth. These diamonds cost less, are more ethically made, and are more environmentally friendly also known as man-made diamond or eco-friendly or conflict free diamond. Rings made with lab grown diamonds are less expensive than natural diamonds and are often considered more eco-friendly. Lab grown diamonds are created using two of methods:

1) CVD creations method stands for chemical vapor deposition in which diamonds are grown from a hydrocarbon gas mixture. CVD diamonds have the exact same properties as natural diamonds, possessing the same internal structure, chemical makeup and physical, lustrous beauty.

2) HPHT creations method stands for high pressure and high temperature in which the HPHT process mimics the conditions found in the Earth's core to create diamonds in a controlled environment. This process was first used successfully by General Electric in 1954.

Natural Diamond

Natural diamonds are rare and precious stones that are made of billions of carbons atoms and most were formed between one to three billion years ago, deep below the earth's surface under intense heat. Its hardness is 10 on the Mohs scale. The price of a diamond can vary depending on a number of factors, including Clarity, Color, Cut, Carat, Shape and Fluorescence.

Importance of Center Stone

The center stone is the main focal point of an engagement rings when considering the price of an engagement rings. The price of a diamond depends on the 4C's of the diamond: cut, color, clarity, and carat weight. A higher carat weight and intense clarity of a diamond increase the price. The cut of a diamond not only affects the brilliance of the diamond but also its cost.

What Types of Metal Can We Use?

Metal Types

The choice of metal color and its purities for the band of a ring influence its cost and aesthetically as well. Platinum is a good option due to its durability and purity, but also expensive compared to gold. 

Yellow gold gives a traditional appearance to the jewelry and is less costly compared to platinum. Rose gold gained popularity in today’s time due to its distinctive color and is comparably priced to yellow gold. Below is the brief overview of metal options with its purities.

925 Sterling Silver

  • Sterling silver is an alloy composed of 92.5% silver and 7.5% other metals, usually copper. The sterling silver standard has a minimum millesimal fineness of 925.

10K Gold

  • 10K gold is the least pure, least expensive but the most durable with 41.7% of gold mixed with 58.3% of other metals.

14K Gold

  • 14K gold is composed of 58.3% of gold and 41.7% of other metals. Most consumers prefer 14K gold for its perfect balance of durability, affordability, and appearance.

18K Gold 

  • 18K gold is 75% of the pure gold and 25% of the other metals. 18K gold is a popular choice for jewelry because it is strong enough to withstand everyday wear and tear but is still soft enough compared to 10K or 14K gold.

22K Gold

  • 22K gold is the mixture of 91.67% of pure gold and 8.33% of other metals. It is also stamped as 916 gold. It is also a popular choice for jewelry as it's more durable than 24K gold.

Platinum

  • Platinum is the most natural, purer and most valuable metal compared to gold but it is less malleable than gold. Its name originates from Spanish words “platina”, a diminutive of Plata "little silver". Usually, platinum is 95% pure but never fades or tarnishes but keeps its natural white color for a lifetime. As platinum is so pure, it is naturally hypoallergenic and ideal for those with sensitive skin.

Types of Diamond Setting

Prongs Setting

It is a type of diamond setting that uses the metal prongs to hold a diamond or a gemstone. There are many sub types of prong setting such as, single prongs set, double prongs set, triple prongs set, V prongs set, heart shaped prongs set, round prongs set or claw prongs set, etc. It is more secure to hold a diamond and easy to clean.

Bezel Set

It is a setting where metal bands around a diamond or gemstone hold it securely and protect it from damage and keep it secure.

Tension Set

In this setting, two sides of the band hold the center diamond or gemstone securely and it appears like the center diamond floats between metal bands, rather than prongs or bezels.

Channel Set

A channel setting is a setting where the stones are held in place by two continuous strips of metal, with no prongs between them. It is considered as the most secure setting.

Flush Set 

A jewelry setting in which a stone is set within a metal hole and metal is applied above the girdle. This means the gemstones are embedded into the band, ensuring a smooth and even surface. The flush setting offers a sleek and modern appearance. It is also known as gypsy setting.

How is an Engagement Rings Made?

1. CAD Design

The jewelry making process starts with CAD (computer aided design) design to develop a digital version of the jewelry using CAD software.

2. Wax Design 

After a CAD design is created, the next stage involves wax piece production, where a physical model of the design is created, and often using wax, to serve as a mould for casting.

3. Casting

The next step involves the casting stage, which is considered one of the most complex processes, where molten metal is poured into the mould to create the jewelry piece.

4. Diamond Setting

It is the setting process where the gemstones are carefully placed and secured in the metal setting.

5. Polishing

It is a final stage carried out after diamond setting, where the jewelry is polished to ensure the shine of the jewelry, remove casting residue, smooth out rough edges, and refine the shape.

6. Quality Control

Quality control is the final stage and as important as the others, where the finished part is inspected to ensure quality guidance and compliance with standard requirements.

Final decision making

When it comes time to make a final decision, above all they influence the final decision. Beyond all these factors, the requirements, preferences, and financial situation of you and your partner should also fit into the picture.

There are two answers to the question of whether an engagement rings can cost less than $1000. The answer can be yes or no depending on various factors such as the styles of an engagement rings, the type of setting, the type of diamond you choose, and the metal selection as well. 

The prices mainly depend on the type of diamond and the metal option you choose. For example, the simple solitaire engagement rings can be available if it is made with cubic zirconia or Moissanite diamond in 925 silver, 10K gold, or 14K gold as well. 

Sometimes, lab-grown diamond rings are also available for under $1000 if the carat weight of the diamond is below 1CT. The price of lab-grown diamond depends on the carat weight and the color/clarity you choose. If you want to buy a natural diamond ring, a simple wedding band made with very small-sized stones can be available within the budget. 

However, many couples are now prioritizing other financial goals, such as buying a home or saving for the future, which could steer their preference toward a more modest investment. But the value of an engagement rings is not just monetary. The emotional value and commitment it signifies far outweighs the price, so it is imperative that the ring you choose is one that you and your partner will treasure.

Conclusion

In conclusion, $1000 is a good investment if it fits your personal tastes and budget, embodies the quality you are looking for, and has the potential to be a long-lasting draw in the market. Whatever your choice, make sure it reflects the taste and values ​​of you and your partner as it is a lasting token of your bond. At Gem Royals, we offer a large collection of engagement rings and customization as well. You can reach out to us whenever you need; we are here to help you 24/7.