Premium Turquoise Outshines Diamonds in Worth

While it might not seem like typical reality TV material, the potential for millions in profits from turquoise mining makes the pursuit of these gems incredibly captivating.

"Turquoise has been a part of my family for over three generations," shares Trenton Otteson, a featured personality on INSP's "Turquoise Fever," via email. "It has deeply influenced our lives, reshaped our family dynamics, helped us through tough periods, and also brought challenges — yet, I wouldn't exchange it for anything else."

For years, the Otteson family has dedicated themselves to discovering the globe's most coveted gemstones, a journey fraught with challenges and hazards. Based in Tonopah, Nevada, they've faced explosive situations, treacherous landscapes, and the intense expectations of global clients.

"Being a turquoise miner has instilled in me a deep respect for fellow miners and a commitment to lending a hand whenever necessary. Mining turquoise and educating others about the effort and passion involved has been an endlessly dynamic and fulfilling adventure," says Otteson.

What Is Turquoise, and Where Does It Come From?

For millennia, turquoise has been cherished by diverse cultures worldwide, making its mark in the historical and contemporary artistry of societies across Africa, Asia, South America, and North America.

Scientifically, turquoise is identified by the formula CuAl₆(PO₄)₄(OH)₈·4H₂O, representing a hydrated combination of copper and aluminum phosphate.

"Turquoise is created through a intricate mix of aluminum, copper, phosphorus, water, and other regional elements that can alter its color or introduce matrix (host rock)," explains Michael Garland, a fourth-generation art and jewelry dealer based in Sedona, Arizona.

"Turquoise is typically discovered at altitudes ranging from 3,000 to 8,500 feet (914 to 2,590 meters) and usually in dry, desert-like environments," he adds. "Only specific areas on Earth offer the right conditions for turquoise formation. The most renowned turquoise mines are located in the Southwest United States, including Bisbee, Lander Blue, Number Eight, and Lone Mountain. However, other regions globally, such as Iran, Tibet, China, Egypt, and Kazakhstan, also produce high-quality natural turquoise."

"Turquoise develops in arid, dry regions worldwide," Otteson notes. "The most well-known sources of high-quality turquoise include Iran (Persia), Egypt, Northwest China, Mexico, and the southwestern United States. While mines can be found in numerous states, Colorado, New Mexico, Arizona, and Nevada are the primary locations where they are most commonly discovered."

"Most turquoise mines in the southwestern United States have been depleted, with the exception of Nevada and a few in Arizona. Nevada has long been the top producer of American turquoise. Since turquoise is primarily composed of copper, it’s no surprise that Arizona and Nevada are also rich in copper mines. The arid climate and copper-rich geology make these regions ideal for producing high-quality turquoise."

The Global Allure of Turquoise Stones

For four generations, Garland’s family has specialized in American Indian art, with turquoise—ranging from sea green to sky blue—playing a central role in their trade.

What makes turquoise so valuable, and why have families like the Ottesons and Garlands dedicated generations to pursuing these stones?

The Value of Turquoise

"The worth of turquoise is determined by its quality and scarcity," explain Emerald Tanner and her father, Joe E. Tanner Sr., via email. They lead Tanner's Indian Arts, a family-owned shop in Gallup, New Mexico, which has been operating for more than six decades.

"Certain mines yielded large quantities of turquoise over many years," they note. "Others produced only a small amount, perhaps a hundred pounds or so, and for a brief period. Turquoise can range from being as soft as chalk to as hard as 6 or 7 on Moh's scale — the harder stones with more vibrant colors are typically more valuable. Another factor in determining value is whether the turquoise is entirely natural or has been 'stabilized' or 'enhanced.'"

Processing and Types of Turquoise

Turquoise is typically a soft, porous stone that can be easily damaged during cutting. Only the rarest pieces can be shaped without any enhancements. When you see turquoise labeled as 'stabilized' stone, it means the softer, lower-grade turquoise has undergone a process to improve its color and durability.

The process entails subjecting the stone to pressure, allowing it to absorb a clear filler, typically epoxy or plastic. This results in a more durable stone that can be shaped and cut. However, since it’s treated, its value is significantly lower.

You might also encounter inexpensive turquoise varieties in gift shops. Reconstituted turquoise, often called chalk turquoise, is created by crushing stone fragments into powder and blending them with epoxy. This forms solid blocks that can be sliced into slabs or shaped into stones.

Then there’s the counterfeit variety: Block or imitation turquoise is usually crafted from dyed plastic or by altering another stone, such as howlite, to mimic the appearance of genuine turquoise.

Understanding the Turquoise Market

"More than 90 percent of the 'turquoise' available globally has been stabilized, treated, or altered to improve its color or durability," the Tanners explain. "Some of what’s marketed as 'turquoise' isn’t even real turquoise but rather dyed or colored imitation materials. We always advise buyers to inquire about the stones and to remember, 'If you don’t know your turquoise, know your turquoise dealer.' Natural, gem-quality turquoise is among the rarest and most collectible natural treasures in the world. It’s truly a unique stone, worthy of collection and admiration."

Otteson emphasizes that the grade is crucial in determining a turquoise stone’s value. Similar to other gemstones, turquoise is evaluated based on the 4Cs — color, clarity, cut, and carat weight — but it also has additional unique factors, such as its place of origin.

"On average, less than 25 percent of the turquoise extracted from our mines or others is suitable for jewelry, and only the top 4-5 percent qualifies as 'gem grade,'" he explains.

"The term 'gem grade' is widely used by high-end turquoise buyers and collectors to describe turquoise with a high silicate content, deep blue color, and spider web patterns," Otteson adds. "As both a miner and cutter, I’ve learned not to set my expectations too high during mining, as the true quality only becomes apparent after cutting. Gem-grade turquoise is breathtaking and truly unforgettable."

Is Turquoise More Precious Than Diamonds?

Despite the seeming abundance of turquoise, top-quality stones are exceedingly rare — so rare that the finest turquoise is "more valuable than diamonds."

"Most mines have been depleted and shut down, combined with government regulations and the high expenses of mining, which have severely limited the ability to discover gem-grade turquoise," Otteson explains. "These factors contribute to the value and desirability of a high-quality turquoise nugget, making it highly sought after."

Otteson notes that not only is premium turquoise considered more valuable than diamonds, but it can also surpass the worth of other precious stones and metals often regarded as jewelry essentials.

"High-grade turquoise is valued at three times the price of gold due to its extreme rarity," he states. "Much of the top-grade turquoise mined in the '60s and '70s is still traded among collectors and jewelers who recognize its true worth. Growing up in a mining family, I’ve come to appreciate both the challenges of mining turquoise and the thrill of uncovering it."

3 Key Factors That Influence Turquoise Value

Garland highlights three primary factors that determine the value of turquoise.

Hardness

"Only a fraction of all mined turquoise is naturally hard enough for use in jewelry," Garland explains. "In many cases, up to 90 percent of the turquoise extracted is too soft and chalky, requiring stabilization to be usable. The highest quality turquoise, which is naturally hard enough, is referred to as 'natural' or 'untreated.' Within this elite category, there are further distinctions like 'high-grade' and 'gem grade,' which denote the finest and hardest natural stones."

Aesthetic Beauty

"The richness of the stone’s color and the inclusion of matrix or host rock can enhance its value. Typically, deeper and darker hues command higher prices. Additionally, intricate webbing in the matrix, known as 'spider webbing,' can also increase the stone’s worth."

The Tanners note that spider webbing can spark debate. "There’s an ongoing discussion in the turquoise community about what adds more value: matrix or clear gem turquoise," they explain. "Gemologists argue that clearer, more flawless stones are more valuable. On the other hand, collectors and Native American jewelers often believe that stones with more matrix and striking webbing are more prized."

Rarity

"Rarity plays a significant role in pricing, particularly concerning the source of the turquoise," Garland states. "A prime example is the Lander Blue mine in Nevada. Known as a 'hat mine' due to its tiny entrance, high-grade Lander Blue turquoise can fetch up to $500 per carat. To put this into perspective, that’s over $1.1 million per pound.

"Why such a high price? It’s regarded as some of the hardest and finest turquoise ever found. Beyond its exceptional quality, the deposit was extremely limited — only about 100 pounds were extracted before it was completely exhausted in the 1970s. The combination of rarity, quality, and visual appeal makes Lander Blue the most expensive turquoise in the world."

Understanding Turquoise Value

What kind of price tag are we looking at for truly high-quality turquoise?

"Unlike gold or diamonds, no two pieces of high-end turquoise jewelry are identical — each is one-of-a-kind!" Otteson explains. "Turquoise of this caliber is exceptionally rare. Out of every 100 pounds (45 kilograms) mined, only about 25 pounds (11 kilograms), or 25 percent, are suitable for jewelry. And of that 25 pounds, only around 1 pound (0.4 kilograms) qualifies as high-grade or gem quality.

"It’s common for this grade of turquoise to sell for $40-$200 per carat. To put this in perspective, gold sells for $1,425 per ounce, with 16 ounces in a pound, meaning a pound of gold is valued at $22,800. For the same pound of gem-grade turquoise (approximately 1,200-1,500 carats), at the lower end of $50 per carat, it would total $60,000 per pound — nearly three times the price of gold. At the higher end ($200 per carat)... well, let’s just say the numbers are staggering — do the math!"

The Spiritual Significance of Turquoise

"Turquoise holds a sacred place among many Native American tribes in the Southwest," the Tanners note. "Its unique allure stems from its resemblance to the sky and its connection to water, which is incredibly precious in this region."

"Almost every Native American tribe has utilized turquoise, whether for healing or decorative purposes," Garland explains. "Its similarity to the sky and water — two revered elements in the Southwest — gives this rare blue-green gemstone deep spiritual meaning for many tribes here. The Southwest is home to numerous tribes (Arizona alone has 21 federally recognized tribes), each with its own beliefs and interpretations of turquoise’s significance."

The Navajo tribe is particularly renowned for honoring turquoise’s sacred beauty. "Turquoise holds special importance for the Navajo people as one of their four sacred stones," Garland states. "Alongside white shell, abalone, and jet, these stones are linked to the Four Sacred Mountains, which mark the traditional boundaries of Navajoland."

Beyond its spiritual value, turquoise has also been used for practical healing purposes. "Each tribe has its own perspective on this," Garland says. "For instance, the Navajo used crushed turquoise in their intricate sand painting ceremonies for healing."

"Turquoise is often regarded as a healing stone, believed to possess powers of wellness and restoration," says Joe E. Tanner. "My grandfather mined turquoise for years in Arizona and Colorado, so my family has a deep connection to the stone. My mother always said she wouldn’t make a major life decision without first holding her turquoise."