In the 1700’s and 1800’s the phrase ‘precious gems’ was applied to the three most desirable gems of the period: Ruby, Sapphire and Emerald. In the early 1900’s Diamond also earned the title ‘precious gemstone’, whilst all other gemstones became known as ‘semi-precious’. Today the term ‘semi-precious’ is frowned upon within the industry, as many gemstones such as Paraiba Tourmaline, Alexandrite, Sphelerite, and several others, often fetch substantially higher prices per carat than those previously belonging to the exclusive ‘precious gemstone’ club.
The International Colored Gemstone Association (ICA) goes as far as to say, ‘The problem with semi-precious, and the reason why the jewelry industry has banned its use, is that it is quite misleading. Rubies, emeralds, and sapphires can sell for less than $100 per carat and a fine Paraiba tourmaline, for example, can sell for $20,000 per carat. That seems pretty precious, doesn’t it?’ Incidentally the French word for gemstones is “pierres précieuse.”
