The 1830s in New York City were a time of dynamic growth and golden opportunity for anyone with a little capital and an abundance of imagination. In 1837 New York became the proving ground for 25-year-old Charles Lewis Tiffany and John B. Young, who opened a “stationery and fancy goods” store with a $1,000 advance from Tiffany’s father. In 1886 Tiffany introduced the engagement ring as we know it today. Previously, diamond rings were set in bezels. But Mr. Tiffany’s ring was designed to highlight brilliant-cut diamonds by lifting the stone off the band into the light. This famous ring was named the Tiffany® Setting. To this day, it is the most sought-after symbol of true love.