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Clear out junk files and repair common Windows errorsFree Scan →Scan for outdated or missing drivers - takes under a minuteDriver Scan →Arkansas gem hunter Jack Pearadin says collectors told him the 6.03-carat rough diamond he found at Crater of Diamonds State Park could be worth more than $1 million. That is not a confirmed appraisal or sale price: a Little Rock appraiser told the Associated Press that a high-quality six-carat yellow diamond from the park could sell for about $250,000. The reporting does not establish the grade or final value of Pearadin’s specific stone.
What Pearadin found—and what the value claims mean
Pearadin, a Navy reservist and longtime gem hunter, says he and his friend Michael Schumacher found the 6.03-carat rough diamond while searching at Crater of Diamonds State Park in Arkansas. Pearadin named it the “American Dream.” He described it to the Associated Press as “this massive, gorgeous yellow diamond,” but that is his description, not a gemological color or clarity grade.
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The two figures in the coverage refer to different things. Pearadin said collectors suggested the stone could be worth more than $1 million. Certified gem appraiser Laura Stanley told AP that a high-quality six-carat yellow diamond from the park could sell for about $250,000. Stanley’s estimate is a hypothetical comparison, not an appraisal of the American Dream. AP reported no independent grading, confirmed offer, completed sale, or transaction price for this particular diamond.
| Figure | What it describes | What it does not establish |
|---|---|---|
| More than $1 million | Pearadin’s account of what collectors told him, as reported by AP on October 2, 2026. | A verified valuation, buyer offer, or sale. |
| About $250,000 | Stanley’s estimate to AP for what a high-quality six-carat yellow diamond from the park could sell for. | The value of Pearadin’s specific stone or a guaranteed sale price. |
Those estimates cannot be compared as if they were two appraisals of the same graded gem. Color, clarity, shape, cutting potential, and the distinction between rough and finished weight all affect value. Stanley also told AP that Crater diamonds “are their own entity,” underscoring that their origin can matter to buyers; it does not, by itself, establish a price.
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Why a 6.03-carat rough diamond may finish much smaller
The reported 6.03 carats is the stone’s rough weight, before cutting and polishing. Nathan Renfro, a senior manager at the Gemological Institute of America, told AP that natural diamonds may be cloudy or oddly shaped and can lose about 25% of their weight during cutting and polishing. That is general context, not a measured forecast for this diamond. Its finished weight, if cut, cannot be known from the reported rough weight alone.
Cutting is not simply a matter of reducing weight: a cutter must judge how to shape the stone while balancing appearance, clarity, yield, and the rough crystal’s form. Without an independent examination, the American Dream’s potential finished size and grade remain unknown.
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How it compares with Arkansas’s historic finds
The 6.03-carat find was reported by AP as the largest diamond found at the park in 2026 as of October 2. It is notable, but it is not the largest diamond associated with the site. Arkansas Geological Survey records provide useful historical context:
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One free scan finds every outdated or missing driver and matches the right update for your exact hardware.Free scan · exact hardware match| Diamond | Recorded weight | Context |
|---|---|---|
| Uncle Sam | 40.23 carats rough; cut to 12.42 carats | Discovered in 1924, before the area became a state park. |
| Star of Arkansas | 15.33 carats rough | A tourist-found diamond recorded by the Arkansas Geological Survey. |
| Amarillo Starlight | 16.37 carats | The largest diamond found after the park began in 1972, according to the Geological Survey page. |
| American Dream | 6.03 carats rough | Found by Pearadin and Schumacher; its final grade and value have not been established in the AP report. |
The Geological Survey says the Murfreesboro volcanic pipes contain gem-grade diamonds and that the state park is legally excluded from further commercial examination. AP reported that more than 37,000 diamonds have been found since the former open-pit mine became a state park in 1972. Park interpreter Sarah Bivens gave AP an annual range of 400 to 800 diamonds, most about a quarter carat; that is an attributed estimate, not an audited tally.
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Why diamonds occur at Crater of Diamonds
Renfro told AP that diamonds crystallize under intense heat and pressure deep within Earth and can be carried toward the surface by volcanic activity. Erosion, water, or wind can then disperse diamond-bearing material. He described public access to the Arkansas search site as “a pretty remarkable operation that that’s available to the public.” He also told AP that the United States has two known primary diamond deposits: Crater of Diamonds and Colorado’s Kelsey Lake, where the land was reclaimed after commercial mining ended. That count is Renfro’s reported assessment, not a new survey.
Can visitors search for diamonds at the park?
Yes. Crater of Diamonds State Park is known for letting visitors search a plowed field and keep gemstones they find, as AP reported. Its October 2, 2026 account described a $15 fee and an option involving a five-gallon bucket. Those details reflect AP’s report at that time, not a guarantee of current admission prices or rules. Check the park’s current visitor information before planning a trip.
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A bucket can help carry gravel, but it does not improve the odds of finding a diamond. The park’s visitor information brochure is available from Arkansas State Parks.
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What happens next to the American Dream?
Pearadin said he plans to share any profits with Schumacher, who helped dig the gravel, and hopes to open his own crystal mine. These are stated plans, not completed outcomes. The available report does not establish that the diamond has been sold, appraised, or cut.
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Sources
- Associated Press, Laura Turbay, October 2, 2026
- Arkansas Geological Survey, “Gemstone”
- Arkansas State Parks, “Crater of Diamonds State Park information brochure” (2022)
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