Diamonds found in mines are referred to as "rough diamonds", while polished diamonds are also called "cut diamonds".
What's the difference between cutting and polishing a diamond? Actually, they refer to different steps in the polishing process - something few people know.
When you talk to a polisher about cutting a diamond, he will think you are talking about the process of making the diamond round, also called "bruting". Until recently, two diamonds would be spun against each other to achieve a good round shape.
Today, diamond factories use more sophisticated machinery instead of this, most notably a "water machine", which will give the stone a round shape with the aid of water.
Polishing diamond, refers to polishing any of the 57 facets of a traditonal round brilliant diamond. This work is done in a flat disk, and it's a different step in the manufacture process of a diamond.
"Cut Diamonds" became synonimous with "polished diamonds" and as long as we all understand each other, all is good!