Diamonds are forever (but only since the last 60 years or so)

Although it is said that the tradition of diamond engagement rings and eternity bands goes back a few thousand years, it was not until the mid-twentieth century that they became the tradition we now know them to be. How they became part of a tradition is, all sugar-sweet stories of romance and everlasting love aside, an interesting tale.
In the late 1930s, De Beers, the then world monopolist for diamonds, in an attempt to reduce their growing stock of diamonds, started a now historic advertising campaign. Out of the need to sell the bulk of their "big" stones, the idea of proposing marriage with a one-diamond engagement ring was born. Before that, there simply wasn't a link between a marriage proposal and a one-stone diamond ring.
Some twenty years later, De Beers had a (secret) agreement with the former Soviet Union as the sole channel for diamonds found there. The diamonds coming from Russia, although being better in quality, were much smaller in size. And what was better to get rid of a lot of smaller diamonds at one time? Thus, the eternity band was born.