PRINCESS’S RING
STONES OF HISTORICAL VALUE
Princess Elizabeth’s engagement ring has a centre diamond of three carats with five smaller diamonds on each side.. The centre stone is valued at current rates at up to £3OO a carat. All the stones together, based on carat value alone, are worth £lOOO. But there is historical value also. All came from heirlooms of Prince Philip’s mother.
Had the stones been new, Lieutenant Mountbatten would have had to pay about £1240 in purchase tax; but there is no purchase tax on the resetting of jewels which have been in the 'owner’s possession for more than two years. So purchase tax was only payable on Ihe making of the ring, which would be 112£ per cent, of the jeweller’s bill. An estimate of the tax is £4O.
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Bibliographic details
Press, Volume LXXXIII, Issue 25253, 4 August 1947, Page 2
Word Count
133PRINCESS’S RING Press, Volume LXXXIII, Issue 25253, 4 August 1947, Page 2
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Acknowledgements
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