Emerald cut diamond is an attractive diamond shape and is sometimes call to as square emerald cut. It was initially made for emeralds, a popular diamond cut into fancy shaped diamonds. The emerald diamond has long, rectangular facets, and this gives it a sophisticated and eye-catching beauty. An emerald cut engagement ring will be cheaper than other fancy shaped engagement rings. Emerald diamonds are cheaper per carat than most cuts, and are significantly cheaper than round diamonds.