I stumbled over this little note while browsing HOME XI and came to think of this thread.
HOME XI Comment on SS22 pg 108
Quote:
For Melian taught to them [The Dwarves Of Belegost] much wisdom (which also they were eager to get, and she gave to them also the great jewel which she alone had brought out of Valinor, work of Feanor ... for he gave many such to the folk of Lorien. A white gem it was that gathered the starlight and sent it forth in blue fires; end the Enfang priced it above a mountain of wealth.
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Fits like a glove eh? The Arkenstone's Silmaril-like qualities are explained as it was a work of Feanor in Valinor. And how did the Dwarves find the Arkenstone? They dug it up from Lonely Mountain right. Probably left there by their ancient ancestors I'd say.
What do you think?