First Nizam, Wealth And Diamonds
The first Nizam of Hyderabad was Mir Qamar-ud-Din Khan, who took the title Asaf Jah I. He founded the Asaf Jahi dynasty in 1724 and ruled the Hyderabad State until his death in 1748. His rule marked the beginning of the Nizam dynasty, which lasted until 1948, when Hyderabad was annexed by India.
ABOUT THE FIRST NIZAM
ASAF JAH 1 (Mir Qamar-ud-Din Khan)
He was born in 1671 and served in the Mughal court under Emperor Aurangzeb. After Aurangzeb’s death in 1707, the Mughal Empire weakened, and regional governors gained more independence.
In 1724, Qamar-ud-Din Khan declared himself independent from Mughal rule and established Hyderabad as a sovereign state. The title "Nizam-ul-Mulk" (meaning "Administrator of the Realm") was given to him by the Mughal emperor.


PRECIOUS DIAMONDS
The Nizams were known for their wealth, patronage of arts, and strong administration. It all began with the first Nizam, Mir Qamar-ud-Din Khan, Asaf Jah I, was closely associated with some of the most legendary diamonds in history.
The first Nizam, Mir Qamar-ud-Din Khan, Asaf Jah I, was closely associated with some of the most legendary diamonds in history. The Nizams of Hyderabad were among the richest rulers in the world and had an extraordinary collection of gemstones, particularly diamonds.
The geographical location of the Nizam empire ensured that, the first Nizam, Asaf Jah I controlled the Deccan, giving him access and much control over Golconda’s diamond trade, making his treasury immensely wealthy. The timeframe being referred to is when, Golconda was home to some of the most resourceful diamond mines.
The proximity of the Nizams to the Golconda diamond mines both, in terms of power and geographical distance – led to the fact that, most highly valued Golconda diamonds came to be associated with the Nizams during their reign.
FIRST NIZAM AND HIS DIAMONDS
Since the Nizam literally ‘owned’ the Golconda diamond mines, he was not obliged to provide any documentation or make any official statements. Experts review circumstantial evidence and information that could point to a diamond originating, from the Golconda mines. The time frame then relates the precious stone to the reign of the Nizams. Below are a few exceptional diamonds, believed to belong to the first Nizam of Hyderabad Mir Qamar-ud-Din Khan, Asaf Jah I.
Koh-i-Noor Diamond: one of the world's most famous diamonds, was once in the Mughal treasury. Since Asaf Jah I was a high-ranking Mughal official before founding Hyderabad, he may have had access to such treasures. However, it later passed to the British after changing many hands.
Darya-i-Noor Diamond: This large pink diamond was once part of the Mughal jewels and is believed to have been acquired by Asaf Jah I before he declared Hyderabad independent. There have been rumors about another pink diamond from the Golconda mines that, the Nizam wore in a turban ornament. The current location of this Golconda diamond remains shrouded in mystery.
Seraphim Blue Diamond: Believed to be a fancy vivid blue diamond, set in a turban ornament and worn by the first Nizam. This diamond has been talked about several years ago, with some diamond collectors claiming that it then belonged to a Russian collector. The Seraphim Blue Diamond has never been seen at any high profile auction but, person-to-person deals and gifting was common in those days.
While high value auction bidders are keeping a watch for the elusive Seraphim Blue Diamond that is believed, to have been mined in Golconda, excitement would peak only when authenticated information on the diamond is made available. This would ideally come from reputed diamond testing houses like the GIA or Gubelin. Once this does happen, the next phase would be the appearance of the Seraphim Blue Diamond at a reputed auction.
It remains to be seen whether the Seraphim Blue Diamond, if it ever surfaces – presents itself as a lose diamond or continues to adorn a priceless turban ornament. For now, the elusive blue diamond is the subject of rumors and nothing more.
The Nizam Diamond (Jacob Diamond): Though acquired by a later Nizam, the Jacob Diamond (weighing 184.75 carats) was one of the most famous gems of the dynasty. It was reportedly used as a paperweight by the 6th Nizam! Some reports have linked the Nizam diamond to a pre-Nizam era, Golconda mine find. This might link the first Nizam to the diamond but, indications are that the Nizam diamond was acquired by subsequent Nizams.
The story of the Nizam diamond being stored in a shoe by the Nizams, has never been substantiated. And if it was ever found in a shoe – the fact that it fell there accidently or happened to be deliberately stored in the shoe, would never be established.
NOTES
Kaisilver has no commercial interest in any of the Golconda diamonds or any diamonds owned by the Nizams. The report has been compiled for information purposes only. Historic diamonds like the Nizam Diamond, Seraphim Diamond, Koh-hi-Noor-diamond are exorbitantly priced and are best traded on reputed auction platforms like Sotheby's and Christie's. Rumors and stories abound but, it is only official certifications from reputed testing houses that, should be relied on.