We’ve heard of husbands buying wives jewels after doing something terrible to them — like cheating or calling them fat — but is the act of running for president of the United States such a bad thing for a husband to do that it, too, requires a big purchase? 

President-elect Barack Obama is reportedly purchasing Michelle a $30,000 "thank you" ring like no cheating husband has done before. The alleged ring — the Harmony ring — is made of diamonds and rhodium, which is the most expensive metal and a rare commodity. It’s being reported that Obama is gifting it to Michelle as a way of expressing his appreciation for putting up with the grueling fight for the White House. The Internet is buzzing today about this after London’s Daily Mail reported that Obama is purchasing the custom-made ring from an Italian designer, Giovanni Bosco, who will reportedly have it ready in time for Michelle to wear on Inauguration Day. Guess we’ll have to wait to see.

According to AOL’s Political Machine, the Obama press office is calling the story "not true": "The story is not true, there is no $30,000.00 ring." The reporter from AOL reportedly was told the following by the jeweler’s spokesperson:

I regret to inform you that because of reports so wrong and clearly different from the reality of our statements, we decided to not issue statement on this matter.

Unfortunately, we were negatively affected by read on national and foreign media news stories that have no basement[sic], and in excess of the objective reality.

I inform you that we have no intention to disseminate more information about this story.

A writer from the Daily Mail, however, reportedly received contrasting information from Giovanni Bosco’s spokesperson:

Our American distributor has contacted us and has asked us to provide details on the Harmony ring. It is our top of the range piece and made from rhodium and encrusted with diamonds. Our agent in the United States was asked by Mr. Barack Obama about the ring because he wants it as a thank you gift for his wife Michelle for her support the last two years.

Rhodium currently is going for $12,000 an ounce. Rings containing rhodium usually have just a sprinkle of the expensive commodity.