The "Precious" Gemstones:
Emerald, Ruby, Sapphire

The term "precious" is defined by the dictionary as "having great value"; "semiprecious" refers to something of "lesser" value. The dramatic rise in the prices of all gemstones during the 1970's has made these terms completely obsolete. However, they remain familiar to many jewelry buyers around the world, and therefore retain colloquial use. The term "precious," as applied to gemstones, has (for centuries) meant four stones: diamond, emerald, ruby and sapphire.

Emerald is the best known green gemstone, and is the birthstone for May. Principal localities include Colombia, Brazil, Zambia, Rhodesia and Pakistan. Production from these areas is quite large, but truly top quality stones are extremely rare, especially in large sizes. Emeralds from India (found in ancient times) are focal points of the Crown Jewels of Iran and the Topkapi Museum in Istanbul. Emeralds will always be highly prized and desirable.

Ruby and sapphire are the gem varieties of the mineral corundum. Ruby, by definition, is the red variety of corundum; all others colors are termed sapphire. Blue sapphire is by far the best known and therefore in greatest demand by the public. In fact, the name "sapphire" itself comes from a Latin word that means "blue." Rubies and sapphires come from Burma, Cambodia, Thailand, Sri Lanka, Australia, and Tanzania. Supplies are good, although fine quality stones are extremely rare. Non-blue sapphires ("fancy colors") are generally rarer than blue stones. Ruby and sapphire are the birthstones for July and September, respectively.

The "precious" gems are like "blue-chip" stocks and form a basis of most gem portfolios.