{
  "id": 747746,
  "title": "From a shoe to RBI: Journey of cursed Jacob diamond",
  "url": "https://urgent.news/2026/08/13/from-a-shoe-to-rbi-journey-of-cursed-jacob-diamond",
  "topic": "culture",
  "section": "Culture",
  "published": "2026-08-13T08:12:40.000Z",
  "source": {
    "name": "The Economic Times",
    "slug": "the-economic-times",
    "url": "https://economictimes.indiatimes.com/news/india/independence-day-jacob-diamond-history-18475-carat-nizam-hyderabad-rbi-vault/articleshow/133204701.cms"
  },
  "original_language": "en",
  "account": "The Jacob Diamond, weighing 184.75 carats, was one of the world's largest polished diamonds, larger than the Kohinoor. Its fame stemmed from the strange trail of intrigue, vanity, litigation and superstition that followed it for over a century. Originating from Golconda, the rough stone weighed more than 400 carats before being cut and polished into its current rectangular cushion-cut form with 58 facets.\n\nIn the late 1880s, the diamond came into the possession of Alexander Malcolm Jacob, a well-known dealer in gems and antiques in British India. He sought to sell it to Mir Mahboob Ali Khan, the sixth Nizam of Hyderabad, renowned for his love of luxury and jewellery. The Nizam's valet, Albert Abid, assisted in the transaction. Jacob negotiated a substantial advance of Rs 23 lakh, with the final price expected to be higher.\n\nUpon presenting the diamond to the Nizam, it was displayed on a silver tray lined with red velvet. The Nizam reportedly uttered \"Na Passand\" or \"not approved.\" Whether he genuinely rejected it or there was a misunderstanding remains disputed. The dispute led to legal proceedings and attracted attention across India. Jacob eventually escaped fraud charges but suffered significant financial and reputational damage, and the Nizam ended up with the diamond, despite no longer wanting it.\n\nThe legal battle transformed the Jacob Diamond into an object of superstition within the Hyderabad court. The Nizam came to regard it as unlucky and hid it away, possibly wrapped in a cleaning rag or inside an old shoe. After the Nizam's death in 1911, his son, Mir Osman Ali Khan, discovered the diamond while going through his father's belongings. Rather than showcasing it, he used the diamond as a paperweight on his desk, a habit that became central to its legend.",
  "summary": null,
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}