【Idar-Oberste】An Exchange in the Hunsrück: Idar-Oberstein — One of the World’s Most Important Centers for Diamond Trading

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Editor’s Note

This article explores the unique history of Idar-Oberstein, a small German town that has become a global hub for diamond and precious stone trading. We examine the geological and historical factors that transformed this community into the home of Germany’s only diamond exchange.

Das Foto zeigt das Modell einer alten Wasserschleife im Edelsteinmuseum Idar-Oberstein, bei der die Männer früher auf dem Bauch liegend mit ihrer Körperkraft die Steine an den Sandstein gepresst und geschliffen haben.
Idar-Oberstein — One of the World’s Most Important Centers for Diamond Trading

Germany’s only diamond and precious stone exchange is based in Idar-Oberstein. But why has this town of just under 30,000 inhabitants developed into a global center for diamond trading?

A Landmark on the Roundabout

Anyone driving from Idar to Oberstein can hardly miss it. At a roundabout on Mainzer Straße, the exchange skyscraper towers 75 meters into the sky. However, it has a flaw. The Diamond and Precious Stone Exchange Idar-Oberstein (DEIO) moved out of here about 13 years ago. Today, it is based in the regional office of the Idar-Oberstein Chamber of Commerce and Industry (IHK).

The photo shows a model of an old water-powered grinding mill in the Idar-Oberstein Gemstone Museum, where men in the past would lie on their stomachs and use their body weight to press and grind the stones against sandstone.

Photo: picture-alliance / dpa/Werner_Baum

By Alexander Schumitz

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⏰ Published on: February 02, 2024