The Vargas Diamond, discovered in the bed of the Rio Santo Antonio in Brazil on August 13, 1938 (July 1938 according to Ball & KerrSydney H. Ball & Paul F. Kerr (1941) The Vargas Diamond, pp. 7–8. Gemological Institute of America, US, Vol. 3, No. 9 (Spring 1941)) by Joaquim Venancio Tiago and Manoel Miguel Domingues. It was when pulled out of the ground.
The diamond has been in the possession of Harry Winston, a jeweler from New York, who purchased it for $700,000. It was the largest known uncut diamond in the world, but since there was no market for a diamond of this size, it was cut into 23 pieces, including the emerald cut diamond named "President Vargas", after the former Brazilian president, Getúlio Vargas. The cutting of the stone was operated in 1941 in Winston's NY Fifth Avenue atelier. 15 months were required. Though 50% of the stone became dust during the cutting, the sales value of the stones reached $2 million. The stone was cut by Adrian Grasselly.
See also List of largest rough diamonds List of diamonds Cullinan Diamond Excelsior Diamond
References
Further reading Esmaraldo Reis (1940) Three Large Brazilian Diamonds, pp. 2–3 Gemological Institute of America, US, Vol. 3, No. 6 (Summer 1940) Shipley, Robert M. (1944) Gemological Digest: Additional Notes on the President Vargas Diamond, pp. 168–169 (PDF page 12–13) Gemological Institute of America, US, Vol. 4, No. 11 (Fall 1944)