With pseudo-celebrity couple Spencer Pratt and Heidi Montag briefly sporting a pair of nine dollar engagement rings they billed as “recession proof” and “economy rings”, many people have started to question whether wedding and engagement rings are a wise investment as the current economic climate remains unsteady. With the current stats showing that 2008 saw a rise of over one million dollars in engagement ring sales, the answer appears to be a resounding yes.

Engagement rings serve a myriad of purposes. First and foremost, they are a symbol of unending and unyielding love between a couple. Beyond that, however, an engagement ring is also an investment. With ring sales steadily rising even as the global economy grows increasingly uncertain, it seems that more people are learning the importance of relying on one another during times of trouble. With prices dropping in such times, there may even be secondary benefits to buying the dream engagement or wedding ring right now.

While prices must drop in order to boost sales, stimulate the economy, and keep workers employed and paid, diamonds themselves are not decreasing in value. This means that the investment you make in a ring today will likely increase greatly when the economic tide finally begins to turn. For people looking to make a wise investment, or even for those just looking to buy that special someone the best ring possible, there are some tips to keep in mind when selecting an engagement or wedding ring.

First and foremost, always choose quality over quantity. By this, I mean simply that you are better off with a smaller but clearer diamond than you are with a larger diamond that is full of flaws. Even if the flaws in a diamond are hard to see with the naked eye, they make a stone far less desirable to investors and even to discerning partners. A small, understated, but minimally flawed stone is always the way to go in these situations.

Another recommendation is to not limit yourself to stones that are already set in rings. It is quite common to find a much better loose diamond that fits your budget and find that you can have it set into the ring style of your choice. This leaves you infinitely more options and really gives you the ability to create a one of a kind ring with hand picked detail from start to finish.

When you decide to choose a setting for the diamond, there are a couple of considerations that need to be made. While other commonly worn jewelry and the recipient’s personal tastes are important to create a matching look, it is also important to consider what type of wear the ring will be exposed to. Because different metals have different degrees of hardness, it is a wise idea to talk to your jeweler about careers and hobbies to be sure you build a ring that will not become damaged or broken in the gamut of day to day life.

While your wedding or engagement ring is a symbol of your love, it is important that you also treat it as an investment. Wedding rings rise exponentially in monetary value over time, and as they are passed along through the years, they grow in sentimental value as well. A finely crafted and well maintained ring will grow in both types of value, and will last many, many years. This is one of the many reasons that ring buyers are encouraged to buy the absolute best diamond that they can afford. While most people enjoy getting a good deal or bargain, buying the biggest and highest quality diamond affordable creates a good investment, and leaves the family an asset should there ever be an emergency situation.

In 2008, wedding ring spending totaled about two billion dollars on top of the over six billion spent during the year for engagement rings. Even in the current economic climate, the diamond bridal ring market is expected to rise another 13.4 percent in the next half a decade, bringing the total to over nine billion dollars per year. Currently a large majority of rings contain diamonds, and over two thirds of the rings sold are composed of white gold as the base metal.

In the long run, it seems that the need for “economy-proof” wedding rings was little more than a publicity stunt for Pratt and Montag. The couple has since purchased a set of real diamond rings and even eloped in Mexico last month, though the move is rumored to be little more than a rating ploy for their MTV “reality” show The Hills. One thing that can be said for the stunt, however, is that it helped bring to light just how recession-proof both love and diamonds really are.