The Holidate actress, 33, revealed The Rookie star, 34, had proposed on July 16 following a two-year relationship. Dressed in a pretty pastel pink puff-sleeve dress, Emma enjoyed a private moment with her fiancé in a field next to a lake.
She leaned over Cody's shoulder as she rested her chin on her left hand, purposefully showing off her new jewelry, which features a "strikingly large" diamond in a "classic" style.
"Putting this here before my mom tells everyone," she joked in the Instagram caption, referring to her mom Kelly Cunningham, the former sister-in-law of Julia Roberts .
According to Zack Stone from Seven Stone, Emma's "unconventional" ring could be worth as much as $140k.
"A mere glance at Emma's engagement ring reveals a strikingly large diamond.
"The sparkler showcases a stunning 3.5-carat round-cut diamond in a solitaire setting. A timeless and popular choice, round-cut diamonds are especially romantic for engagement rings, as their shape symbolises eternal love.
"Emma has opted for a thick gold band, which is an unconventional choice since most people favour a thin band in order to accentuate the size of their diamond," he said.
Meanwhile, Mike Fried , CEO of The Diamond Pro, suggested it was a 5-carat diamond.
"I'd estimate the value at $110,000, but possibly more, depending on the quality of the stone. Her ring looks to be a solitaire setting, with the diamond taking center stage. The ring boasts a classic style with intricate detailing to add personality," Mike explained.
Laura Taylor from Lorel Diamonds agreed it is a "classic" design, but concluded it isn't "overly extravagant," with an estimated value of £85,000 ($110,000).
She added: "There is also a chance that the ring is vintage, as Cody will know and appreciate Emma’s love for vintage pieces and antiques.
Based on the images shared, the diamond appears to be of excellent quality, possibly VVS1 clarity, which means it has minimal imperfections. The yellow gold band complements the diamond perfectly, adding a touch of warmth and sophistication."
Emma's love life
American Horror Story star Emma was previously engaged to Evan Peters, whom she dated from 2012 to 2019.
She then had a relationship with Garrett Hedlund from March 2019 to January 2022. They share a son called Rhodes, three, who was born in December 2020.
Following their split, Emma found love with Cody, whom she reportedly met through mutual friends. The couple went public with their relationship in August 2022 when he posted a photo on Instagram of the two kissing. However, they have kept their romance largely under wraps since then.
Emma previously explained why she likes to keep her love life private during an interview with Cosmopolitan in May 2019, two months after she began dating her ex Garrett.
"I never want to talk about relationships I’m in or that are ending or have ended. It’s hard enough to be with someone by yourself, let alone with an audience," she said.
"Growing up is hard. Sometimes it makes me sad that I can’t have a private moment. Because of Twitter and Instagram, there’s a whole other element where everybody can comment on what you’re doing, and no one knows the real story. That’s hard… I know what’s true, and I know what happened in my own life, and so do the people that love me and who I love."
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