Are lab grown diamonds the same quality and color as mined diamonds? 

On average, slightly better.

Lab grown diamonds are optically, chemically, physically and thermally the same as mined.

Over the past few years, experienced producers are able to turn out diamonds that are mostly in the D-G color range, and VS+ clarity. That is MUCH higher than the run-of-mine (a random sample) in a conventional mining operation.

There is also talk that there may be a need to introduce a new color grade — D+, or even C — to reflect the higher level of colorlessness that’s now achievable in a lab.

TO CLARIFY: A G/VS lab-grown is the same as a G/VS mined. The point is that high color and clarity goods are more common in a lab than in the ground.

And the lab-growns are currently 1/3 the price of mined.