The Moonstone symbolizes the dangers of entitlement and rapaciousness. It is a sacred object, but first John Herncastle and then Godfrey Ablewhite treat the diamond as something to serve their personal ends. Both men are aware of the curses and warnings associated with misappropriating the gem, but they ignore those warnings. Herncastle’s motives are less clear, but Ablewhite demonstrably acts out of greed to continue to fund a secret illicit lifestyle. However, both men end up suffering because of their greed and arrogance, and Ablewhite eventually loses his life as a result of his desire to possess the diamond. The diamond symbolizes the downfall that inevitably awaits those who arrogantly put their own desires ahead of everything else.

The Moonstone’s connection to India adds to its symbolism, reflecting how similar attitudes of greed, exploitation, and arrogance also informed British imperialism. Herncastle and Ablewhite’s theft of the diamond reflects not only their individual greed, but also the way that the British empire often recklessly exploited regions it colonized, without showing regard for the cultural and religious traditions that existed in those regions. Since interfering with the Moonstone leads to suffering for many people, the gem symbolizes how the actions of specific individuals also have consequences for the wider community.