The Star of Egypt is an important diamond with rich historical roots. There is uncertainty surrounding its exact early history. Some reports mention its country of origin as India, but that remains disputed. Several other reports believe the stone to be a possible Brazilian diamond. Mentions of large diamond accounts unearthed in Brazil refer to an oval-shaped rough weighing 250 carats named ''Sta of Egypt''.

The stone first reportedly appeared in 1850 and was said to have been immediately acquired by the Khedive of Egypt. Khedive was a title of honor of Persian origin used most famously for the viceroy of Egypt from 1805 to 1914. The Egpytian ruler reportedly sold the Star of Egypt in 1880, and it was then re-fashioned into an emerald shape by its new owner.

The stone later appeared in 1939 on the London market at its present weight. It was sold in 1940 to the London Jewelers Wilson & Gill and one report indicates it may have been later purchased by Egypt's King Farouk. King Farouk, who ruled from 1936 to 1952, was known for his lavish lifestyle that included an extensive collection of coins and cars, and an equally impressive jewelry collection. The collection included the 94.78 ct Star of the East and the 726 ct D-color, Flawless Jonker diamond. Both vanished after his exile in 1952 and didn't reappear until several years later.

Today the Star of Egypt is a spectacular 105.52 carat rectangular step-cut [ diamond that has remained in ] private ownership over [all these years and is now being offered for auction for the first time in it’s history.]''
- GIA

"This diamond is known by family tradition to have weighed 106.75 ct and to have been recut to its present weight of 105.519 ct in order to eliminate a number of edge damages, shortly before being bought in the 1940's. It is reputed to have remained in the same hands since then. These data seem to correspond with those of the ''STAR OF EGYPT'' diamond after the descriptions in the [below mentioned] literature.''
- Gübelin

''This diamond was said to have been cut from an oval stone of 250 carats which was discovered in 1850 and immediately acquired by a Viceroy of Egpyt. In 1939, it appeared on the London market in its present weight, but its ownership today is unknown."
- Notable diamonds of the world, De Beers Consolidated Mines, Limited, p.32

''Until its appearance on the London market early in 1939, the magnificent Brazilian diamond, to which the name Star of Egypt has been given, was utterly unknown. It is said to ahve been discovered about the middle of last century, and to have been acquired by the Khedive of Egypt. At the time it weighed about 250 (old) carats, and was oval in shape. He sold it in 1880 or about that time, and it was then re-fashioned into an emerald-cut brilliant form, the weight being reduced to 106,75 metric carats. The stone is a hard dead white in colour, and owning to the perfection of its shape, its fire is extraordinarily lively.''
-Gemstones, 14th edition, G.F. Herbert Smith, Chapman and Hall, London, 1972, p.230

''Found about 1850 and acquired by the Viceroy of Egypt. A 250-carat oval stone. Appeared later in London as a 106.75-carat emerald cut. Present location and ownership not known.''
-The DIAMOND Dictionary, 2nd edition, Gemological Institute of America, 1977, p.273

"The Star of Egypt Diamond is listed as follows in the list of The World's largest Polished Gem Diamonds:
43. 106.75: Star of Egypt, Colour: white, Shape: emerald
Present owner or location: Unknown - shown in London Office after 1850"
-Diamonds 2nd edition, E. Bruton, N.A.G. Press London, 1978, appendix 2