The name Jones diamond arrived from the members of Jones family who discovered the stone in Peterstown, West Virginia in April 1928. Also, it is called by its other name “the punch Jones diamond, the Grover Jones diamond or the horseshoe diamond”.

Jones diamond is an uncut naturally formed dodecahedral crystal with 12 facets weighing 34.48 carats. The stone is a largest alluvial diamond ever discovered in North America. The gem has a white color with bluish tinge color. The alluvial diamond weighing 34.48 carats (6.896 g) found in North America was discovered in April 1928 by William p Punch Jones and his father Grover c Jones sr while pitching the horseshoe in the home yard. For fourteen years, this rare gem was kept inside a cigar box. Later, in the year 1942 punch rediscover the stone from the cigar box and realized the value of the stone. He then gave it to the professor of Virginia polytechnic institute and conformed the stone as diamond. The bluish white diamond weighing 34.48 carats (6.896 g) measured 5/8 of inch (15.8 mm) across possess 12 diamond shaped faces.