Buzz
Earth is home to over 4,000 different naturally occurring minerals. While many are nearly impossible for most people to tell apart, to the average person, a rock is just a rock. However, some stones truly shine. People have an affinity for sparkling treasures, and fortunately, some minerals and gemstones are not only beautiful but also incredibly rare—two qualities that make them highly sought after.
As a result, certain gemstones can come with hefty price tags if you're lucky enough to get your hands on them. Below are some of the rarest and most expensive gems you could invest in.
10. Musgravite
Musgravite is one of the rarest gemstones ever discovered. It was first found in 1967 in the Musgrave Ranges of Australia. Initially, it appeared to be just a shiny grey rock, far from the sort of gemstone you would want to set in jewelry. Since its initial discovery, this mineral has been located in remote regions such as Antarctica and Greenland. However, it wasn’t until a notable discovery in Tasmania that Musgravite's true potential was revealed.
A few Musgravite crystals that could be cut and polished were found. Most of the Musgravite gems on the market, known for their gemstone quality, typically have a greyish olive green or slight violet hue. However, one unique discovery contained tiny tube-shaped inclusions that created a vivid iridescence when reflected.
What will this dull stone cost you? The highest quality Musgravites can be priced at up to $35,000 per carat.
9. Alexandrite
Having something named after you is always a source of pride, so Russian crown prince Alexander must have been pleased when this mineral was named in his honor in 1830. Found in the Ural Mountains, Alexandrite quickly revealed an intriguing property: it changes color depending on the light. In daylight, it appears a vibrant green, but under candlelight, it transforms into a deep red. This led to its description as 'emerald by day, ruby by night.' As the red and green were the colors of the Imperial Russian flag, the stone quickly became a symbol of immense popularity in Tsarist Russia.
This dramatic color change occurs due to both the way the crystal absorbs light and how the human eye perceives red and green light. Thanks to this remarkable characteristic, Alexandrite remains one of the most expensive gemstones, with stones that exhibit clear and distinct color shifts often costing as much as $70,000 per carat.
8. Benitoite
In 1907, prospector James M. Couch believed he had stumbled upon gold, or perhaps sapphire, when he discovered striking blue gemstones in the San Benito mountains of California. However, after sending samples to a mineralogist, it was revealed that Couch had uncovered an entirely new mineral, which was later named Benitoite.
The mineral was quickly being mined through what was referred to as a 'glory hole.' Due to Benitoite's relatively soft nature, many of the gemstones were damaged during extraction. Benitoite's rarity is attributed to the specific conditions required for its formation. It only occurs in high-pressure, low-temperature zones where tectonic plates converge. Benitoite has since been designated as California's official gemstone.
A quality one-carat Benitoite gem could be priced around $8,000, though the value increases significantly for larger stones, as they are extremely rare.
7. Grandidierite
Grandidierite is a rare mineral known for its pleochroism—showing different colors depending on the angle you view it from. It can display dark green, colorless, and dark blue shades simply by turning the stone. This effect is a result of how the atoms within the crystal lattice are arranged in three-dimensional space. Discovered in Madagascar in 1902, Grandidierite has since been found in other locations, but few specimens have made their way onto the market.
Most Grandidierite gemstones found are opaque and cloudy, but a small number of clear specimens have been extracted from the area of the original discovery. It wasn't until 2015 that clear Grandidierite began to appear in any quantity on the market. To date, only 300 carats of transparent Grandidierite have been produced.
The first gemstone-quality Grandidierite was sold in 2003 for $50,000, despite its weight of only 0.29 carats.
6. Serendibite
Serendibite was discovered in Sri Lanka in 1902 and is named after the ancient Arabic name for the island. Initially, Serendibite didn't seem promising as a gemstone. Some specimens appeared as shiny black stones, while others had a rough, grayish appearance. Until 2005, only three faceted Serendibite gems were known to exist, each commanding around $14,000 per carat when sold.
In 2005, a new source of Serendibite was discovered in Myanmar, leading to a decrease in the price of these gemstones. Nevertheless, they continue to be highly sought after by collectors, thanks to the wide range of colors they can display, which is a result of their complex chemical structure.
Some Serendibite stones are a deep black, while others can range in color from dark blue to greyish, pale green, or even brown.
5. Poudretteite
Many mineralogists would be overjoyed to find even the smallest fragment of a previously undiscovered mineral. This was likely the reaction when tiny crystals of Poudretteite were recognized as a new mineral in 1986. Initially, it seemed impossible for these delicate pink crystals to be transformed into gemstones due to their tiny size. However, in 2000, an extraordinary discovery was made.
The find wasn't a rough crystal pulled from the Earth, but rather an already cut and polished gem. This remarkable Poudretteite was discovered in a market in Burma and weighed nearly 9.5 carats. No stone of such size had ever been found before, let alone fashioned into a finished gemstone. The gem was nearly flawless and exhibited a pale pink hue.
Since the initial discovery, several more Poudretteite gemstones have been unearthed in the same area. Some of these gems showcase a captivating deep pink or purple hue. However, you may have to pay around $5,000 per carat for one. The first large Poudretteite is now part of the Smithsonian collection.
4. Jadeite
The stone commonly referred to as Jade actually consists of two similar-looking minerals. One, nephrite, has been used for centuries to create jewelry and tools. The other, Jadeite, is far rarer and more durable. In China, Jadeite was once known as Imperial Jade. For Meso-American civilizations, Jadeite was considered more precious than gold.
Jadeite is not only tough but also highly workable, making it a favorite medium for artists—provided their clients could afford it. It appears in a range of colors, including purple, white, blue, and various shades of green, from opaque to translucent. Of all these, green Jadeite was most treasured in China.
In 2014, a necklace composed of 27 striking emerald-green jadeite beads was auctioned off for an impressive $27.4 million.
3. Melo Melo Pearls
Not all gemstones are born deep beneath the Earth's surface over millions of years. For thousands of years, humans have hunted for and collected pearls. In ancient times, pearls could be as precious as any other gemstone. Today, thanks to the cultivation of pearls in oysters, most people can afford a string of pearls—but only if they are ordinary pearls.
Not all pearls originate from oysters. Some marine snails also create pearls as a defense mechanism against irritants. The Melo melo is a large sea snail found in Southeast Asia. When something enters its shell, the snail secretes layers of calcite and aragonite over it, which gives the pearl a distinct appearance, unlike the nacre found on typical pearls. Over time, this process can result in the formation of a sizable pearl, which, if discovered, could be worth a fortune.
While most common pearls are small, the pearls produced by the Melo melo snail can grow several centimeters in diameter. These pearls are harder than typical pearls and come in a variety of colors. The most coveted are a creamy orange hue with fiery, flame-like patterns on their surface. Due to the rarity of the Melo melo pearl and the fact that it can take decades for one to form, the chance of finding one is slim. As a result, these pearls can fetch as much as $700,000 at auction.
2. Taaffeite
For centuries, spinels have been cherished in the world of jewelry. Their intense red hues have occasionally led to confusion with rubies. In fact, the famous Black Prince’s Ruby in the British Crown Jewels is actually a spinel. So it was quite an unexpected revelation when a completely different mineral was discovered, one that had been misidentified as a spinel.
In 1945, Count Edward Charles Richard Taaffe purchased several gemstones, one of which was thought to be a spinel. Upon further analysis, he realized it was an entirely new mineral, which was named in his honor. This remains the sole instance of a mineral being identified from an already cut gem.
Since its discovery, Taaffeite has remained rare in the market. Stones with minor imperfections or lighter colors can be purchased for approximately $1,000 per carat, but those that are deeply colored and flawless can fetch up to $15,000 per carat.
1. Diaspore
New gemstones are often discovered by accident rather than through skill. In the 1970s, workers at a bauxite mine in Turkey stumbled upon what they believed to be undesirable impurities. Bauxite is the ore from which aluminum is extracted, and the miners would remove any crystals to keep it pure. They were unaware, however, that these crystals were actually rare and valuable gemstones.
Although Diaspore was first discovered in 1801, no specimens suitable for faceting were found until much later. However, the substantial deposits in Turkey made it possible to begin marketing diaspore, supplying the jewelry industry. Now sold under names like Ottomanite, Zultanite, and Csarite, gems in shades of green, orange, and red can be found around the world.
