Wherefore are the Engagement Ring

This is an interesting read.

Wedding bands make sense to me, and stylistically I like the elegant simplicity of matched, plain (gold, silver, platinum) bands. Engagement rings have always seemed odd to me. I am amused that it used to be a means of essentially buying a woman's virginity, and the diamond cartel history is fascinating, though it makes me have less desire to purchase those stones, never minding the whole conflict diamonds issue.

Ok, I'll admit, I'm a guy with respect to jewelry and I don't get much any of it, but the idea of wearing two months' salary (it used to be one) on one's finger seems overly silly. It's a means to brag about the wealth of a future husband, not of his love, or devotion. There is little sincerity to it either: figure out whether the monthly salary thing is before or after taxes and should factor in any bonuses, multiply by 2, go to jewelery store and look at rings that are in that price range, possibly with girlfriend (or one of her friends), identify appropriate ring at the correct price, and purchase (often on credit card to be paid off over next few years).

The real reason is the number of other things that one can do for the cost of two months' salary, and it doesn't even matter what one's salary is. For someone earning $24k/year that's $4000 that could be spent on a nice vacation, or new furnishings/appliances/renovation for their house. No matter how much one earns 2 months' salary is a lot.

It really may not be much different than a guy showing off his 52" LCD that is up in a smallish living room that could be fully and well served by a 32" model, or a $15k, 950cc motorcycle that is used for slow touring on nice weekends. Except that the tv can be used by many people and provides plenty of entertainment and the bike does still get one around (and in relatively fuel efficient fashion, though at 950cc, only ~45 mpg).

Rings can be beautiful works of art. They can have meaning and history (passed down, found second hand, designed by one of the couple). Most engagement rings, however, are the equivalent of gold plated spinners: too much money spent on an accessory meant for showing off that money, not love.