Imperial treasury The gem collection of Peter I, established in 1719, was later stored in the Diamond Chamber (Бриллиантовая комната) in the
Winter Palace. All succeeding monarchs added their contributions to the Chamber. A 1922 study by
Alexander Fersman identified 85% of all exhibits to be from 1719 to 1855, to emperors
Peter I through
Nicholas I, and only 15% attributed from the last three emperors.
Catherine the Great exhibited a particular interest for expensive rocks, even naming her stallion "Diamond." The Diamond Fund received more contributions from her than any other monarch.
Soviet Union Preservation, sales and looting of Imperial treasures after the
Russian Revolution of 1917 are a matter of controversy and speculation. The Imperial collection was moved from
Saint Petersburg to
Moscow during
World War I; the Soviet Diamond Fund was officially established in 1922. The treasure was first exhibited to the public in November 1967. Originally a short-term show, it became a permanent exhibition in 1968. During the late Soviet period, the value of the Fund's collection was estimated to be $7 billion.
Russian Federation The Russian State retains the
monopoly for mining and distribution of gemstones, as set by the 1998 law
"On precious metals and precious stones". Diamond Fund operations are regulated by the 1999 presidential decree (official text). The Diamond Fund is part of a larger
State Fund of Precious Stones, managed by the Ministry of Finance, and accumulates the most valuable items, in particular • All raw diamonds exceeding 50
carats (10 g) • All cut diamonds exceeding 20 carats (4 g), cut diamonds of exceptional quality exceeding 6 carats (1.2 g) • All raw emeralds, rubies, sapphires exceeding 30 carats (6 g) raw or 20 carats (4 g) cut • Unique nuggets,
amber,
pearl and jewellery
Recent additions • 2006 – "
The Creator" (Творец), mined in
Yakutia in 2004. Third largest raw diamond in the Fund, 298.48 carats (59.696 g) • 2003 – golden nugget, 33 kg • 1989 – "
Alexander Pushkin", second-largest raw diamond, 320.65 carats (64.130 g) • 1980 – "
XXVI Congress of CPSU", largest raw diamond, 342.57 carats (68.514 g) ==Major exhibits==