All this from ONE stone: Jewellery from world's largest diamond goes on display at Buckingham Palace. The Cullinan Diamond, weighing 3,106 carats in its rough state, was first discovered in 1905 at a mine near Pretoria in South Africa It was originally thrown away as it was thought it to be too large to be a diamond Once recovered, it was presented to King Edward VII as a gift cuts were used in the Crown Jewels Other cuts were used to make brooches, necklaces earring.