Determining Preciousness
Diamonds are rare, durable and infinitely beautiful. Yet, there is more to this precious gem than ornamental beauty: They are a determinate of the preciousness of other gems as well.
Identification
Diamonds are one of a few natural gemstones that are considered precious. Corundum (ruby and sapphire), topaz, opal and beryl (emerald and aquamarine), to name a few, also lie in this class; whereas gemstones such as pearl, jet and coral are considered semiprecious. For a gem to be a precious gemstone (mineral derived) it has to own beauty, durability and rarity; whereas a semiprecious gemstone (organically derived) only has one or two of those qualities.
Environment
While gemstones can occur in most major geologic environments, each environment holds a certain characteristic suite of gem materials. In addition, though most gemstones are indigenous of igneous rocks, gem material such as garnet, which is seen as crystals in gneiss, can also be found in sedimentary and metamorphic rock.
Categorizing
Mineral gemstones are categorized by how hard resistance to scratching the stone is and by its specific gravity--how many times heavier (denser) a stone of any volume is than an equal volume of water. Organic gemstones, such as pearl or coral, while still prized for their beauty, are not as durable as the gemstones mined from minerals.
Cost
Costs for gems and precious stones vary depending on color, cut, clarity and weight. For example, a one-half carat diamond ring made of 14K white gold may run you up to $1,000, whereas a cultured pearl ring set in 14K white gold will cost you up to $500. Shopping from a reputable dealer will definitely be your wisest choice.