Lyrics
Verse 1
I was a beggar when I found this gold mine
I was a stranger without a song
But now I can sing, I'm a child of the King
And just wait till you see my new home
Chorus
And I'm as wealthy as a king in a palace
I've got riches that's never been told
With Jesus I'm an heir, oh, I'm a millionaire
And I feel like my pockets are full of
Diamonds and gold, diamonds and gold
Verse 2
I guess I'll never have a lot of money
But I got riches way down in my soul
And I'd rather have this peace
If it means poverty
Chorus (Repeat x3)
Video
Meaning & Inspiration
"Diamonds and Gold" contrasts former spiritual poverty with present, described wealth, opening with the image of a beggar who discovered an unexpected gold mine rather than earning riches through effort. That reversal, beggar to heir, gives the song's celebratory tone a foundation in undeserved change rather than accumulated achievement.
Its chorus repeats the central claim of the song, describing spiritual riches through Christ using the specific language of inheritance, naming the singer an heir and comparing that status to being a millionaire despite no actual financial change. That deliberate contrast between literal poverty and described spiritual wealth runs throughout the song's structure.
A second verse makes that contrast explicit, admitting likely lifelong lack of money while insisting on preferring inner peace over material comfort, even if peace means continued poverty. Rooted in Southern gospel tradition, the song functions as a reframing of value itself, treating spiritual inheritance in Christ as wealth surpassing anything material poverty could diminish.
Related Scripture
- Romans 8:17 Describes believers as heirs of God and co-heirs with Christ, directly echoed in the song's central claim of being an heir.
- 1 Peter 1:4 Describes an inheritance that can never perish, spoil, or fade, echoed in the song's description of riches that can never be taken away.