"A safe investment during a volatile market." During World War II my Great Grand Father went to the Philippines as a civilian contractor to provide goods and services to the US Military. To protect his investment, he transferred his wealth into diamonds. He was rumored to have a tackle box full of diamonds. Alas my inheritance was a single yellow half carat diamond. But I digress, he used the diamonds because no matter what currency he was using there was always the value in the diamonds

Writer Kristen Shirley from Bloomberg reports that "Jewelry collecting has been a diversion for hundreds of years. J.P. Morgan was a well-known gem collector during his lifetime—Tiffany & Co. even named a newly discovered stone, morganite, in his honor. Indian maharajahs displayed their wealth in opulent jewelry suites featuring hundreds, if not thousands, of carats. Visit any museum in Europe, and you’ll find a dazzling parade of royal crown jewels that kings and queens collected.

Because nothing holds value quite like rare, precious jewels, collecting them can be a rather sound investment. Price makes little difference: In 2003 a Belperron amethyst cuff sold for $28,680; in 2021 that same cuff went for $87,500. In 2012 a 6.7-carat Kashmir sapphire auctioned for $206,500; last year a similarly sized one was bought for $550,000."