Precious

Precious (pronounced presh-uhs)

(1) Of high price or great value; very valuable or costly.

(2) Highly esteemed for some spiritual, nonmaterial, or moral quality.

(3) Affectedly or excessively delicate, refined, or nice; fastidious in speech and manners.

(4) Anything though extreme (now rare and usually used only in clichéd forms).

(5) As precious and semi-precious, descriptors used in the gem-stone trade.

1250–1300: From the Middle English preciose (valuable, of great worth or price, costly) from the eleventh century Old French precios (precious, costly, honourable, of great worth), from the Latin pretiōsus (costly, valuable), the construct being pretium (price, value, worth) + ōsus or ous.  The Latin suffix -ōsus or ous (full, full of) was used to form adjectives from nouns, to denote possession or presence of a quality in any degree, commonly in abundance.  It was picked up in Middle English as -ous, from the Old French –ous & -eux.  The Modern French is précieux.

The meaning "over-refined" dates from the late fourteenth century and Dr Johnson noted it also had a secondary inverted sense of "worthless" whereas today, that’s a pure antonym.  As applied to a "beloved or dear person or object", meaning in that sense was first noted in 1706.  Related forms include preciously (adverb) & preciousness (noun).  The formal division of the gemstone market into precious and semi-precious dates from 1858, adopting the division introduced in the metals trade in 1776, precious metals then defined as gold, silver and sometimes platinum, the parameters being those rare enough to be used as a standard of value yet sufficiently abundant enough to permit use for coinage (the category of the semi-precious metal was introduced in 1818).  The idea of a person or object being precious in the sense of "beloved or highly valued” emerged early in the eighteenth century and was based on the earlier adjectival use.  The now rare noun preciosity (value, great worth, preciousness, quality of being precious) from the Old French preciosite and directly from the Medieval Latin pretiocitas (costliness, a costly thing), from pretiosus was from circa 1400.

The equally rare noun precieuse (pedantic woman, woman aiming at refined delicacy of language and taste) was in 1727 borrowed by English from French and was from the French précieuse, noun use of the feminine of précieux.  In English, it was best known as a stereotypical character in Molière's (Jean-Baptiste Poquelin, circa 1622-1763) 1659 comedy of manners Les Précieuses ridicules (The Affected Young Ladies).

Precious & semi-precious gemstones

Although the notion of a hierarchy pre-dates modern civilization, gemstones were first classified into the categories of precious and semi-precious in the mid-nineteenth century.  Originally an internal system of classification used by the gemstone trade, the distinction became popular and use widespread.

Precious was applied to four types of gems: diamonds, rubies, sapphires, and emeralds.  As early as the 1880s, some traders, doubtlessly seeking commercial advantage, applied the label to other stones including opal, jade and pearls but most of the industry regards this as mere puffery and use has never become persistent or generally accepted.  Nor have buyers been persuaded; diamonds, rubies, sapphires and emeralds account for well over ninety percent of the US$ dollar value of gemstone turnover; although not as widely applied, the four are known also as the cardinal stones.

Semi-precious is used for all varieties of gemstones not categorized as precious and any gemstone suitable for being used in personal adornment can be included. Semi-precious stones include gems fashioned from agate, amber, amethyst, aquamarine, aventurine, chalcedony, chrysocolla, chrysoprase, citrine, garnet, hematite, jade, jasper, jet, kunzite, lapis lazuli, malachite, moonstone, obsidian, onyx, peridot, rhodonite, sunstone, tiger's eye, tanzanite, topaz, turquoise, tourmaline and many other materials.

What can be misleading or confusing is the classification is inherently hierarchical and suggests correlation with cost.  An opal has been sold at US$5500 per carat and both jade cabochons and red beryls have traded US$10,000 a carat, all prices higher than that at which most precious stones sell.  Nor should precious imply scarcity, many semi-precious stones more rare than the precious four; red beryl, ammolite, benitoite, gem silica, demantoid garnet and tsavorite garnet are all found in fewer locations and produced in smaller quantities than any of the precious stones.

Such apparent anomalies are not unusual in classification systems, especially the older sets.  In geology the elements described as rare earths aren’t especially rare and in arboreal taxonomy, the soft, light balsa is a hardwood.  So, although not entirely arbitrary and meaningless, the classification of gemstones is best considered jargon of the trade although the American Gem Trade Association (AGTA) has in their code of ethics a clause that members should avoid the use of the term ”semi-precious” in describing gemstones.  The view of the association is that a term like semi-precious tends to devalue the objects and they’d prefer to have just about all gems thought of as “precious” (and therefore expensive).

Nor does the notion of the four precious gems have long history.  One stone regarded as precious since antiquity was amethyst but it fell from favor when large deposits were found in South America; the introduction of semi-precious into the lexicon corresponding with the new discoveries.  Of all stones, diamond is the most mythologized, mostly of modern origin.  Historically, colored stones such as ruby and sapphire were more highly valued than diamond, because diamond was not particularly rare.   That changed in the twentieth century when, counter-intuitively, large finds in South Africa created an abundant supply of gem-quality diamonds.  Until the South African boom, worldwide production of diamond amounted only to a few kilograms per year.  After huge South African mines opened in 1870, output began to be measured by the ton, causing such a glut the De Beers cartel was formed to control supply.  Quality diamonds are not at all scarce but De Beers’ control kept prices high and their near monopoly endured until 2005; even today they control over a third of world trade.  They also generated demand.  Until De Beers lavished spending on advertising, the diamond engagement ring was almost unknown; now, it’s an almost essential part of the marriage ritual.  The diamond's special position as a precious stone is due largely to monopoly economics and social engineering.

Ruby was from the Middle English ruby, rubie, rubi & rube, from the Old French rubi, from the Latin rubinus lapis (red stone) & rubeus (red) (feminine rubea, neuter rubeum) from rubeō (I am red, reddish).  The Latin rubeus was the source also of the Italian rubino and in related to ruber, from the primitive Indo-European root reudh- (red, ruddy).  It came to be applied as a name for a pure or somewhat crimson-red color from the 1570s.  There’s no etymological explanation for the Modern French rubis (ruby) beyond a assumption the plural was mistaken for the singular and caught on.

A pink to blood-red colored stone, the ruby, like the sapphire, is a variety of the mineral corundum (aluminium oxide).  The ruby’s deep red hue and vibrant glow is because of the presence of the element chromium but, more romantically, it carries the color of love and desire, a quality perhaps reflected in the prices the stone attracts at auction, the ruby tending to command the highest per-carat value of all colored gems.  A particular attraction of the pure ruby are the thin inclusions called needles which, when intersecting in groups, create a phenomenon called “silk” which softens the color causing the light to scatter in intricate patterns across the facets.  Ruby is the birthstone for July and the gem of the fifteenth and fortieth wedding anniversaries.

Emerald was from the early twelfth century Middle English emeraude, from the earlier Old French esmeraude, from the Medieval Latin esmaralda & esmaraldus, from the Classical Latin smaragdus, from the Ancient Greek σμάραγδος (smaragdos) (green gem or malachite), from the Semitic baraq (shine).  It was influenced by the Hebrew bareqeth (emerald) and the Arabic barq (lightning).  The Sanskrit maragdam (emerald) was from the same source, as was Persian zumurrud, from which Turkish gained zümrüd, source of Russian izumrud (emerald).  Historians caution that many mediæval references to the precious stones are not reliable except as a (sometimes vague) reference to color and this is said to apply especially to the emerald.  Ireland, came to be known as the Emerald Isle from 1795, the linkage because, with a high rainfall and a temperate climate, it’s a very green island.  The emerald was the favourite stone of Cleopatra, Queen of Egypt.

A cyclosilicate and a variety of the mineral beryl and colored green by tiny quantities of chromium and sometimes vanadium, emeralds are not an especially tough stone so their resistance to breakage is classified by cutters as poor.  For this reason, jewellers often mount emeralds differently, using the shape or thickness of the supporting metal to afford the stone greater protection.  The particular quality of the structure of the emerald is the often-seen intricate inclusion called the “jardin” (French for “garden”) which appear in multiples and demand a special technique from those cutting the stone; gem cutters thus developed the “emerald cut” which lends the cut stone its distinctive rectangular or square shape.  Those who cut gem stones are formerly styled lapidaries but the more evocative “cutters” seem both preferred and better.  Emerald is the birthstone for May and the gem of the twentieth and thirty-fifth wedding anniversaries.

Sapphire is from the mid-thirteenth century Middle English saphir, from the early thirteenth century Old French saphir, from the Latin sapphir, sappir & sapphīrus (blue), from the Ancient Greek σάπφειρος (sáppheiros) (precious stone, blue gem), from a Semitic language.  The Hebrew סַפִּיר‎ (sappī́r) was perhaps from a non-Semitic source such as the Sanskrit शनिप्रिय (śanipriya) (dark-colored stone, perhaps a sapphire or emerald, literally “dear to Saturn”, the construct being Saturn + priyah (precious).  Some historians have speculated the Ancient Greek sappheiros, although meaning “blue stone" apparently referred to the "lapis lazuli", the modern sapphire being instead signified by the Greek hyakinthos; not all concur.  The Latin sapphirus was the source also of the Spanish zafir and the Italian zaffiro.  Among Renaissance lapidaries, the sapphire was said to cure anger and stupidity and, as sapphiric & sapphirine, assumed the role of adjective since the fifteenth century.

The sapphire is another variety of the mineral corundum, consisting of aluminium oxide with trace quantities of elements such as iron, titanium, chromium, vanadium, or magnesium.  A notably hard stone, the sapphire is third in hardness behind the diamond and moissanite and has some useful optical qualities which is why it’s used also in non-ornamental applications, such as infrared devices, wristwatch crystals and ultra- thin electronic wafers, used as the insulating substrates of specific-purpose solid-state electronics such as integrated circuits and blue LEDs, the latter of such importance the discovery of the processes which permitted its creation gained the responsible scientists the 2014 Nobel Prize for physics.

Although most associated with hues of blue, pure sapphires are actually white, but in the presence of titanium and iron traces they acquire their velvety blue shade and there’s long been a speculation there’s some link between the name and the planet Saturn.  Apart from the classic blue, there are the rarer “fancy sapphires” which exist in just about every color from green to pink (even a highly prized black and there are “parti sapphires” which display two or more colors) except for red; what would technically otherwise be a red sapphire is actually a ruby.  Known as the gemstones of wisdom, truth and justice, sapphire is the birthstone for September and the gem of the fifth and forty-fifth wedding anniversaries.  A sapphire jubilee happens after sixty-five years.

Diamond was from the mid-fourteenth century Middle English diamaunt & dyamaunt, from the Old French diamant, from the Late Latin diamantem (nominative diamas), from the Vulgar Latin adiamantem, from the Classical Latin adamantem (nominative adamans) (the hardest metal, later "diamond"), from the Ancient Greek ἀδάμας (adámas) (genitive adamantos) (diamond).  Adamantos was used also as the name of the hypothetical hardest material, noun use of an adjective meaning "unbreakable, inflexible”).  It was cognate with the Spanish imán (magnet) & diamante, the French aimant (magnet) & diamant, the Italian diamante, and the Portuguese ímã (magnet) and diamante.

Lindsay Lohan's engagement ring.

From the early fifteenth century, in English also picked up another meaning which appeared also in Classical Latin: "a person of great worth".  In mathematics, later in the same century, diamond had come to describe a "geometric figure of four equal straight lines forming two acute and two obtuse angles.  It was used for one of the four suits in playing cards from the 1590s, having been an adjective to describe clusters of diamonds since the 1550s.  In baseball, the use to refer to the square space enclosed within the four bases dates from 1875.

Created when carbon is subject to immense pressure, diamond possess the highest shine of all transparent gemstones and is both the hardest known natural material on earth and the one with the highest thermal conductivity.  Able to be scratched only by another diamond, the cutting of the stones is also done with another diamond.  To determine their quality, diamonds like all precious stones are graded using the 4C system of connoisseurship: carat weight, color, clarity and cut. Diamond is the birthstone for April and the gem of the tenth and sixtieth wedding anniversaries.

Knight's Cross with Golden Oak Leaves, Swords, and Diamonds (1944).

A diamond cluster was an addition late in World War II to the Knight’s Cross, the highest decoration awarded to Germany’s military and paramilitary forces during the Third Reich.  The Knight's Cross with Oak Leaves, Swords, and Diamonds (Ritterkreuz des Eisernen Kreuzes mit Eichenlaub, Schwertern und Brillanten) was gazetted in July 1941.  A final and higher grade, the Knight's Cross with Golden Oak Leaves, Swords, and Diamonds (Ritterkreuz des Eisernen Kreuzes mit Goldenem Eichenlaub, Schwertern und Brillanten) was created in December 1944, intended (somewhat optimistically given that all professional soldiers expected that month's  Unternehmen Wacht am Rhein (Operation Watch on the Rhine and better known as the Ardennes Counteroffensive or the "Battle of the Bulge") to fail (as it did)) to be awarded after Germany's final victory the to the dozen most illustrious soldiers.  Only six were struck, one of which was actually awarded.

Treasure

Treasure (pronounced trezh-er)

(1) Wealth or riches stored or accumulated, especially in the form of precious metals, money, jewels, or plate; wealth, rich materials, or valuable things.

(2) A thing, beast or person greatly valued or highly prized.

(3) As the verbs treasured & treasuring, carefully to retain or keep in store, as in the mind; to regard or treat as precious; cherish; to put away for security or future use, as money.

(4) A term of endearment in the sense of “cherish” (archaic).

1125–1175: From the Middle English tresor, (displacing the native schat) from the Old French tresor (treasury, hoard, treasure (trésor in Modern French)), from the Gallo-Roman tresaurus, from the Latin thēsaurus (storehouse, hoard; anything hoarded (source also of Spanish & Italian tesoro)), from the Ancient Greek θησαυρός thēsauros (store, treasure, treasure house) (related to tithenai (to put, to place), from a reduplicated form of the primitive Indo-European root dhe- (to set, put).  In Middle English there was also the spelling thresur, the modern spelling is from the sixteenth century.  It replaced the Old English goldhord & maðm and the meaning extended from hoards of precious metals etc to a general sense of "anything valued" from circa 1200.  The verb emerged in late fourteenth century Middle English, a derivative of the noun.  It meant literally "to amass treasure; to store up for the future" but was used also in the figurative sense as "regard as precious, retain carefully in the mind" from treasure.  The first recorded treasure hunt happened in 1913 a relatively modern alternative spelling was the now almost extinct treasuer.  Treasure is a noun & verb, treasurable & treasureless are adjectives, treasury, treasurership, treasuress & treasurer are nouns, treasuring is a verb and treasured is a verb & adjective; the noun plural is treaures.

The noun treasurer was from the late thirteenth century, from the Old North French & Anglo-French tresorer & and the Old French tresorier, from tresor.  The noun treasury (a room or vault in which to store and safeguard treasure) dates from circa 1300, from the eleventh century Old French tresorie (treasury), from tresor.  The meaning "department of state that controls public revenue" was recorded from late the late fourteenth century and the first treasury bill was issued in 1797.  An Old English word for "room for treasure" was maðm-hus and for "treasury", it was feo-hus (connected to the modern fee).  There is a connection with the noun hoard, from the Old English hord (a treasure, valuable stock or store, an accumulation of something for preservation or future use and hence "any mass of things preserved by being deposited together," from the Proto-Germanic huzdam (source also of Old Saxon hord (treasure, hidden or inmost place)).  It was cognate with the Old Norse hodd, the German Hort and the Gothic huzd (treasure; literally "hidden treasure"), from the primitive Indo-European root (s)keu- (to cover, conceal).

T-Paper

US Treasury Building, Washington DC.

T-paper (Treasury-paper) is the collective term for securities issued by United States Treasury.  The US Treasury Department sells bills, notes, and bonds at auction with a fixed interest rate.  When demand is high, bidders pay higher than face value to receive the interest rate.  When demand is low, they pay less, thus the yield declines as the price rises; at times of crisis, yield drops as investors seek security at the expense of income.  T-paper gained the name from being once issued on physical paper or cardboard) but are exist in now digital form and are also referred to as “Treasurys”.

1864 US $100 three-year treasury note (6% annual interest rate, compounded semi-annually, payable at maturity); a bearer-bond, paid over-the-counter, to whomever held the physical paper.  

Although physical paper is no longer much associated with T-paper, a linguistic legacy persists in the “coupon stripping” market.  There’s long been a secondary market for T-paper, one flavor of which is where the interest and principal components have been separated, or "stripped" so they may be re-sold as separate products.  The name is derived from the days of paper and cardboard when traders literally would separate the paper interest coupons from the paper securities.  In the secondary market, the two pieces of paper than became independent retail items, one yielding interest, the principal re-sold as a zero-coupon bond.  The correct name in the digital age is Separate Trading of Registered Interest and Principal Securities (STRIPS).  STRIPS, more than some other products, reflects the dual role of the Treasury as both regulator and participant in the financial gambling market, not itself an issuer of STRIPS (that part of the market reserved for brokers and the non-retail arms of banks), instead the maintaining the transaction and ownership register.

1976 US $5000 ten-year treasury note with 8% rate.

The difference in types of T-Paper are defined by the length of the term: the time until the bond the matures at which point it is repaid.  All T-paper are really bonds, the nomenclature just part of the jargon of the industry.  Treasury Bills are issued for less than a year, Treasury Notes for 2, 3, 5, and 10 years and Treasury Bonds for 30 years.  Still unconfirmed is whether recent discussions by Treasury about longer-term bonds will be pursued although demand seemingly exists, fifty and even hundred-year bonds mentioned.  There has been speculation about the demand which, given the amount of money said now to be “sloshing around” the system, wasn’t unexpected and the large holdings of various sovereign wealth funds may also find the longer terms attractive, for reasons political as well as fiscal.  It anyway represents one school of thought on what to do about the money supply. 

A more recent creation is the Treasury Inflation-Protected Security (TIPS), bond, the principal of which is indexed against inflation using the Consumer Price Index (CPI).  As the CPI rises, the principal is adjusted upward; if the index falls, the principal is adjusted downwards, the coupon rate remaining constant, but generating a different amount of interest when multiplied by the inflation-adjusted principal.  This has the effect of protecting the holder against the inflation rate as measured by the CPI.  The current version of TIPS was created in 1997 and is offered with five, ten and thirty year maturities.

Spikes and waves:  US T-Note yield against inflation projections and outcomes with events noted, 2000-2020.

Inflation-indexed bonds became common in government bond markets in the late twentieth century, many emerging in the inflationary environment which followed (1) the distortions in US government spending the 1960s, (2) the structural changes to the Bretton-Woods system in the 1970s  and (3) the consequences of the oil shocks in the same decade; they’re essentially a form of hedging.  In the orthodox bond market, even those issued for long terms promise the holder a fixed dollar (or whatever currency) income flow for the term of issue.  That contrasts with the outgoings of an individual or corporation because prices tend quickly to adjust to external changes and unexpected changes can increase the general level of prices, altering the real purchasing power of money which is a risk to both holders and issuers of orthodox bonds.  The indexed bond substantially reduces this risk in that the lender’s receipts and the borrower’s payments become linked to movements in the general price level.

Lindsay Lohan attending the LA premiere of Treasure Planet, Cenerama Dome, Hollywood, California, November 2002.

Again, while used as a hedge, it is still a gambling market, the incentive for governments, beyond the political attractions of being able to offer the product, being the ability substantially to reduce borrowing costs  The UK government first issued indexed bonds in 1981 as a part of an attempt to reduce (it was actually an attempt to kill) inflation.  The markets however had noted the post-war performance of successive governments and were sceptical, holders of orthodox bonds, in effect, charging the government on the basis of an inflation rate substantially higher than the government intended the outcome to be.  This is how gambling works.  In issuing indexed bonds, simultaneously the government flagged a new seriousness in monetary policy and an intent to reduce funding costs by promising to compensate investors for high inflation only if inflation did not fall.  Unexpectedly, the government’s strategy proved successful and substantial savings in borrowing costs were realised.  The effect of the increase in the money supply induced by the COVID-19 responses will ultimately produce higher inflation because, unlike the restorative measures in the wake of the global financial crisis (2008-2011) which essentially gave money only to the rich, greater disposable income was gained more widely.  If the inflation is sustained or (in response to new, unexpected events) spikes, New Zealand's approach (which included products actually marketed as "inflation-proof bonds") might be re-visited.   

The New Zealand experience was different but the small size of the market, while making it an interesting and manageable thing for modelers and analysts, does mean caution must be taken if attempting to apply that experience at scale.  The NZ government issued inflation-adjusted government securities between 1977-1985 and, in a period of historically high inflation, they were popular, eventually accounting for some 15% of domestic debt on issue.  Post-war NZ had evolved into what is possibly the West’s most extreme example of an open political system being combined with a highly regulated economy and that did tend to work until the convulsions of the 1970s to which the NZ hybrid proved unable to adjust.  The adjustments were made after a change of government in 1984 and the inflation adjusted bonds offered by tender in 1983-1984 entered a market where the official inflation target was considerably lower than the buyer’s expectation.

New Zealand Consumer Price Index (CPI) 1970-2015.

Almost immediately, the new government ceased issuing indexed debt.  Perhaps paradoxically, the same credibility gap confronted the government in its own use of more orthodox methods to cut inflation.  Because it was expected the costs of selling long-term nominal bonds would be high, in 1986, issues longer than five years were suspended, the government making clear that would prevail until their inflation target had been met or exceeded.  The approach, while textbook correct, wasn’t without risk because, although shortening the term of a government’s nominal debt can be an appropriate response where inflation outcomes are uncertain, it does heighten the risk of higher costs when rolling-over maturing debt.  As it turned out, for one reason and another, some fairly brutal, inflation was tamed and in 1995, the government returned to the index-linked market.  Many countries created markets, Finland and some of the Nordic zone as early as 1945 and Israel ten year later.  A cluster of Latin American countries issued between 1964-1972 and a number of OECD nations followed the New Zealand and UK in the 1980s although the US Treasury wasn’t active until 1997.

Coronet

Coronet (pronounced kawr-uh-nit, kawr-uh-net, kor-uh-nit, or kor-un-net)

(1) A small crown.

(2) A crown worn by nobles or peers (as distinct from those worn by sovereigns).

(3) A crown-like ornament for the head, as of gold or jewels.

(4) An ornament, tending to the pedimental in form, situated over a door or window.

(5) The lowest part of the pastern of a horse or other hoofed animal, just above the hoof.

(6) In heraldry, a crown-like support for a crest, used in place of a torse; also called crest coronet.

(7) The margin between the skin of a horse's pastern and the horn of the hoof.

(8) The knob at the base of a deer's antler.

(9) The traditional lowest regular commissioned officer rank in the cavalry (the equivalent of an ensign in the infantry or navy).

(10) Any of several hummingbirds in the genus Boissonneaua.

(11) A species of moth, Craniophora ligustri.

1350–1400: From the Middle English crownet & corounet, from the Middle French couronnette, from the Old French coronete (little crown) a diminutive of corone (crown) from the Latin corona (third-person singular present active subjunctive of corōnō) (crown), from the Ancient Greek κορώνη (korṓnē) (garland, wreath; a type of crown; a type of sea-bird, perhaps shearwater; a crow; anything curved or hooked (like a door handle or the tip of a bow).  Related in form, if not always function are diadem, wreath, crown, chaplet, circle, tiara, headdress, headband & anadem (a headband, particularly a garland of flowers).  Coronet is a noun; the noun plural is coronets.

Lindsay Lohan in coronet: Mean Girls (2004).

Crowns and coronet are both types of headgear worn as symbols of authority but there are technical differences between the two.  The crown is the traditional symbolic headpiece worn by a monarch and (in some cases) certain other members of royal families.  Fabricated usually from precious metals and adorned with jewels, crowns are by convention taller and more ornate than coronets but this is not an absolute rule and the symbolism of a crown as something representing sovereign power and regal authority doesn’t rely on its size.  Despite that, coronets tend to be smaller, less elaborate versions of crowns and they’re worn by members of the nobility who do not hold the rank of monarch and the consort of a monarch.  According to authoritative English sources, the general specification for a coronet dictates a small crown of ornaments  fixed on a metal ring and, as a general principle, a coronet has no arches and unlike a tiara, it wholly encircles the head.  Helpful as that may be, coronets in the wild are obviously rare (although that depends on the circles in which one moves) but commonly see as rank symbols in heraldry, adorning a coat of arms.  More opportunistically, they’re a popular symbol used in commerce.

Coronets of the United Kingdom.

In the UK, a country where there are more coronets than most, those worn by members of the House of Lords are of a defined designed according to the notch on the peerage one inhabits but surprisingly, they’re worn only for royal coronations so the 2023 event will be their first appearance en masse since 1953.  Outside of royalty, they were once exclusive to dukes but the right was granted to marquesses in the fifteenth century, to earls in the fifteenth, to viscounts (of which there are surprisingly few) in the sixteenth and barons in the seventeenth.  Coronets may not bear any precious or semi-precious stones.

1959 Dodge Silver Challenger

Chrysler’s Dodge division used the Coronet nameplate in a way typical of Detroit’s mid-century practices.  Between 1949-1959 it was a full-sized Dodge, beginning as a top-of-the-range trim before in 1955 being shifted downwards, seeing out its first iteration as an entry-level model.  One mostly forgotten footnote of the first Coronets is the 1959 range saw the first use of the Challenger name.  In 1959 the Coronet-based Challenger was an early example of a model bundled with a number of usually optional accessories and sold at an attractive discount.  The concept would become popular and the Challenger name would later be twice revived for more illustrious careers as pony cars (although the first attempt (1969-1974) was a financial disaster, the cars now much sought-after which, in their most desired configurations trade in the collector community well into six figures with the odd sale above US$1 million).

1979 Dodge Challenger (a "badge-engineered" Mitsubishi).

Although the Mopar crew don't much dwell on the matter, between 1978-1983, Dodge applied the Challenger name to a "captive import" (the then current term describing an overseas-built vehicle sold under the name of domestic manufacturer through its dealer network), a Mitsubishi coupé sold in other markets variously as the Sapporo, Lambda and Scorpion.  Although somewhat porcine (until a mid-life facelift tightened things up), it was popular in many places but never achieved the same level of success in the US (where Plymouth also sold it as the Sapporo), even though that was where the "personal coupé" had become a very lucrative market segment.   

1969 Dodge Hemi Coronet.  By 1969 the writing was on the wall for engines like the Hemi and just 97 Coronet hardtops and 10 convertibles were built.  In 1970, when the last two-door Coronets were made, production had dropped to 13 hardtops and a solitary convertible.

The Coronet’s second run was as an intermediate between 1965–1976 and it’s the 1968-1970 models which are best remembered, based on the corporate B-body platform shared with the Plymouth Belvedere and Dodge Charger.  Plymouth gained great success with their take on the low-cost, high-performance intermediate when they released the Road Runner, a machine stripped of just about all but the most essential items except for its high performance engines, including the 426 cubic inch (7.0 litre) HEMI V8.  It was a big hit, the sales wildly exceeding projections and it encouraged Dodge to emulate the approach with the Coronet Super Bee although for whatever reason, it didn’t capture the imagination as had the Road Runner and in the three seasons both were available, sold less than a third of its corporate stablemate.

1967 Dodge “Road Runner” advertisement.

Curiously though, Dodge may have missed what proved to be the priceless benefit of using the Road Runner name, in 1967 running advertisements for the Coronet R/T (“Road & Track” although “street & strip” would have been closer to the truth), which used the words “Road” & “Runner” although spaced as far apart as perhaps the lawyers advised would be sufficiently distant to avoid threats of litigation.  Plymouth solved that problem by legitimization, paying Warner Brothers US$50,000 for the Road Runner name and the imagery of the Wile E Coyote and Road Runner cartoon depictions, spending a reputed (though unverified) additional US$10,000 for the distinctive "beep, beep" horn sound, the engineering apparently as simple as replacing the aluminium strands in the mechanism with copper windings.

Donald Trump admiring the coronet worn by Miss USA Kristen Dalton (b 1986), Miss USA 2009 Pageant, Las Vegas, Nevada.  Although the beauty contest business called them crowns or cornets, most, like that worn by Ms Dalton were technically tiaras.

Cameo

Cameo (pronounced kam-ee-oh)

(1) A technique of engraving upon a gem or other stone, as onyx, in such a way that an underlying stone of one color is exposed as a background for a low-relief design of another color.

(2) A gem or other stone so engraved; a medallion, as on a brooch or ring, with a profile head carved in relief

(3) A literary sketch, small dramatic scene, or the like, that effectively presents or depicts its subject.

(4) As "cameo, "cameo role" or "cameo appearance", a minor part played by a prominent performer in a single scene of a production, originally un-credited yet deliberately obvious (a la Alfred Hitchcock (1899–1980)).  In modern use, the sense has extended to any brief appearance, credited or not.

(5) In commercial use, a color of creamy neutral ivory, the name an allusion to the hue most associated with the jewelry.

(6) The industry slang for "cameo lighting", a technique used on stage or set usually by restricting the output of a spotlight to a narrower beam and the reverse effect of "silhouette lighting" (a complementary chiaroscuro technique).  

1375–1425: From the Italian cam(m)eo from the Old French camaieu, of uncertain origin; replacing late Middle English camew & cameu both direct borrowings from the Old French.  The ultimate root is held usually to be the Medieval Latin cammaeus (later camaeus), of unknown origin but both the Arabic qamaa'il (flower buds) and the Persian chumahan (agate) have been suggested as the source.  Cameo is a noun & verb and cameoed & cameoing are verbs; the noun plural is cameos or cameoes.

In the early fifteenth century, kaadmaheu, camew, chamehieux and many other spellings, all from the early thirteenth century in Anglo-Latin circulated, all meaning "engraving in relief upon a precious stone with two layers of colors" (such as onyx, agate, or shell and done so as to utilize the effect of the colors).  These fell soon from use as the words derived from the Medieval Latin cammaeus and the Old French camaieu prevailed.  By the nineteenth century, use extended to other raised, carved work on a miniature scale.  The transferred sense of "small character or part that stands out from other minor parts" in a plays etc is from 1928, a derivation from the earlier meaning "short literary sketch or portrait", first noted in 1851, a transferred sense from cameo silhouettes.  A cameotype was a small, vignette daguerreotype mounted in a jeweled setting, the first examples of which were produced in 1864.

Cameo & Silhouette

A classic, simple silhouette (left), a nineteenth century hardstone cameo in 18 karat yellow gold in the mid-nineteenth century Etruscan Revival style (centre) and a  silhouette with the detailing which became popular in the late 1700s (right).

As artistic representations, there's obviously some overlap between a silhouette and a cameo but they are different forms.  A silhouette is inherently a two dimensional rendering of a shape (typically a portrait but they can be of any scene or object) which classically were simple and of a solid colour (usually black) on a contrasting (usually white or cream) background.  Originally, there was no detailing of features but that soon became common.  Silhouette portraits were highly popular in the eighteenth & nineteenth centuries and the form was especially popular with untrained (indeed unskilled) amateurs because of the cheapness and simplicity of the form, a finished work requiring little more than two sheets of paper (black & white), a pair of scissors and a pot of glue.  A cameo differs in that it is three-dimensional, an embossed or raised piece, usually in relief.  The most prized antique cameos are those engraved on semi-precious gemstones, agate, forms of onyx, shells and lava but in modern use synthetic materials are not uncommon and, being small and able to be rendered in a single piece, can be 3D printed although the quality of these doesn’t (yet) match something hand-carved.

Cameo.com

Launched in March 2017, cameo.com is a US-based distribution & content-sharing website, its niche being a platform on which celebrities and others can sell personalized video messages to fans or anyone else prepared to pay, the site claiming more than thirty-thousand sources are available.  The price per clip is said to extend from US$5 to US$3000 and operates as a dynamic supply and demand curve, the price said to rise or fall in response to elasticity in demand, all determined by an AI algorithm which is predictive (able to anticipate a rise in demand and adjust prices accordingly).

For US$400 (or US$20 for a DM), one can receive a personalized video message from Lindsay Lohan.  The service limits the text to two-hundred and fifty (250) characters so economy of language is encouraged.  The client is able to request the theme and possible topics might include relationship counselling, fashion advice, career management & international relations.  In most cases, it seems not necessary to approach this with undue urgency, many of the celebrities available on Cameo.com "for a limited time!" have been listed for some years.

Lindsay Lohan at the Mean Girls (2024) premiere, New York, January 2024.

Lindsay Lohan’s cameo in the 2024 (musical) re-make of Mean Girls (2004) attracted comment for a number of reasons but what most impressed many was the fee, reported by entertainment industry magazine Variety as US$500,000.  While that sum is unverified, what has been confirmed is that her cameo (in the math competition scene) required four hours on set; given the simplicity of the math, Variety didn’t bother printing its calculation of the hourly rate but given the 2004 production was shot over three months for which Ms Lohan was paid a reputed US$1 million, it’s clear inflation alone doesn’t account for the differential.  Still, any commodity is worth only what a buyer is prepared to pay and it’s a specialized supply & demand curve because there’s only one Lindsay Lohan.

Wither

Wither (pronounced with-er)

(1) To shrivel; fade; decay.

(2) To lose the freshness of youth, as from age (often followed by away).

(3) To make flaccid, shrunken, or dry, as from loss of moisture; cause to lose freshness, bloom, vigour, etc.

(4) Harmfully to affect.

(5) To abash, as by a scathing glance (the withering look).

(6) The singular of withers (part of the back of a four-legged animal that is between the shoulder blades).

1530s: From the Middle English as an alteration of the late fourteenth century wydderen (dry up, shrivel), intransitive, apparently a differentiated and special use of wederen (to expose to weather), from the Old English hwider, an alteration of hwæder, from the Proto-Germanic hwadrê.  In German, there was verwittern (to become weather-beaten), from Witter (weather).  The transitive sense emerged in the 1550s.  Wither is a verb & adverb, withered is an adjective &  adverb, withering is a noun, verb & adjective and witheringly is an adverb.

Readers ancient & modern

There's also whither (To what place?) which is functionally equivalent to the relative adverb "whereto".  Except in poetry or other literary forms, "whither" is now rare to such an extent that it can be said to have vanished from popular use.  For many students, Shakespeare in the original is close to something in a foreign language and it’s not uncommon for high-school texts to be rendered more accessible.  This has be criticised as dumbing down (and at tertiary level probably is) but is probably a good idea.  One editor actually thought young readers would manage with wither but thought "riggish" too difficult.  In Antony and Cleopatra (Act 2 Scene 2), Shakespeare had Enobarbus say:

Never. He will not.
Age cannot wither her, nor custom stale
Her infinite variety. Other women cloy
The appetites they feed, but she makes hungry
Where most she satisfies, for vilest things
Become themselves in her, that the holy priests
Bless her when she is riggish.

The editor “translated” thus:

He’ll never leave her.
Age won’t wither her,
And her charms are so varied that she never grows boring.
With other women, the longer you know them the less appealing they become. 
Cleopatra, on the other hand, makes you desire her the more you see her.
Even her worst faults are charming
Holy priests bless her even when she acts the slut.

The Withered Garland (1800) by Karl Wilhelm Friedrich von Schlegel (1772–1829)

It was yet May when these you broke,

and in those flowers spoke,

yet a blossom yourself,

that which, now blooming, in your own heart

was awakening and,

in sacred wise, did already stir,

that childlike something your friend, ah! so cherished

when she her heart did lay

upon his own,

where now I do eternally weep.

 

These violets, which as a sign the child did send,

now do so soften my heart

that my eyes

may never bring to an end

the pain they now suck in,

and oft do still to her turn,

now finding but this garland, withered, in my hands.

Like this wreath did she,

chosen early to end,

lose herself self-unbeknownst.

 

Take hither this lofty, precious gift,

the only thing yet left to me

of the precious one,

that it might her image yet renew

when amid tears

my yearning so willingly flees

into death arms, escaping life’s vain notions.

Though let me first in tears

immerse my sweet remembrance!

 

We who found life in the pleasure of death,

who boldly nature understood

amid the flames,

where love and pain together

us unite:

let our foreheads be encircled

by the sign whose sense we have long since found.

For did not from these wounds

oft spring forth roses

in painful caress?

 

Hence may this girl’s own shadow surround us, hovering,

to melancholy devoted,

till in death as one we may again more intimately live,

and this deep striving wholly unite

those who, smiling, for one another weep.