Quick and Easy Buying Guide
Carat weight: 1 carat = 200 milligrams = 6.5 mm diameter. Doubling weight doesn't double diameter.
Diamond clarity: FL/IF/VVS/VS = super expensive, near perfect. SI = best value if you can check a photo for obvious inclusions (defects).
Color: D-G = colorless, expensive, only if you have money to burn. H-J = best value. Can go lower in gold metal settings than white metal.
Cut: Better cut ratings let more light into a diamond, making it sparkle more. Very important property, don't skimp here.
Set a budget and minimum cut (Premium). Go J color for gold and I/H for white metals. Go searching for SI1/SI2 clarity diamonds at James Allen. Pick a diamond with small/no inclusions. Choose a ring setting and buy it risk-free (60-day returns).
0.49 Carat Princess Shape Diamond Actual Size
This article has a handy picture showing you the apparent size of a 0.49 carat size princess shape stone, when it's actually on a typical woman's hand. The precise size of a 0.49 carat size princess shape diamond will vary depending on the depth of cut, but will typically be around 4.8 mm along one square edge.
The photo in this page has a ring of L 1/2 ring size, which is typical or perhaps on the small side of typical for a female ring. Photos can sometimes be a little dependent on the viewer - this one is pretty clear cut, but don't forget viewing the stone in the flesh may give you a very different judgement of size to examining it on the web.
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Digits can be all different sizes, which should factor in to your decision regarding diamond size and shape.