Diamond gypsy ring, circa 1900.

This ring is in very good condition.

The term 'old mine' refers to gemstones deriving from historical, often ancient, mining sources.

With regards to diamonds, for example, this would indicate that the stones were mined in India or Brazil, the two primarily mining locales prior to the discovery of diamonds in South Africa in the late nineteenth century. India in particular is renowned for diamonds mined in the central area of the subcontinent surrounding the city of Golconda, and are known for their particularly high quality in terms of size, colour and clarity. The Hope diamond and the Koh-i-Noor, perhaps the two most famous diamonds of all time, are Golconda diamonds. To add to the rarity of such stones, these mines have been largely exhausted.