corundum, quality.10, gems

A practical guide to buying, selling, evaluating, and investing in precious gemstones, written by New York gem dealer Benjamin Zucker. Originally published in 1976 as How to Invest in Gems, this revised second edition reflects the dramatic increases in gemstone prices during the late 1970s and advocates fine rubies, sapphires, emeralds, and diamonds as long-term investments and hedges against inflation and currency depreciation. Individual chapters examine the geological occurrence, mining, cutting, identification, quality factors, geographical origins, and market values of the four principal gemstones, with particular attention to color, clarity, size, and inclusions. Ruby sources discussed include Burma, Sri Lanka, Thailand, Cambodia, Afghanistan, and Kenya; sapphire sources include Kashmir, Burma, Sri Lanka, Thailand, Australia, and Montana; and emerald sources include Colombia, Brazil, Rhodesia, Zambia, Afghanistan, and others. Zucker describes methods of distinguishing natural from synthetic gemstones using microscopy, refractive index measurements, ultraviolet fluorescence, and characteristic inclusions, drawing upon the research of Eduard Gübelin and other gemologists. A substantial section examines the history and operations of De Beers, including its control of diamond production and distribution, relationships with Soviet producers, and methods of stabilizing diamond prices. Other chapters address gem appraisals, auctions, retail and wholesale pricing, and the investment potential of tourmaline, garnet, aquamarine, and other gemstones. Suggested investment portfolios range from $10,000 to $1 million, with recommendations concerning gemstone varieties, sizes, and qualities. Appendices provide comparative gemstone prices from 1968 to 1979, descriptions of major museum collections, an overview of gemological institutions and grading systems, and historical accounts of jewelry craftsmanship, Fabergé, Marco Polo, and Louis XIV. Particularly interesting are the author's firsthand account of purchasing a 94 ct blue star sapphire subsequently exhibited at the American Museum of Natural History and his descriptions of the Iranian Crown Jewels. Illustrated with numerous color and black-and-white photographs of gemstones, inclusions, mining operations, jewelry, and museum treasures, the book offers a revealing contemporary perspective on the international gemstone trade and investment philosophy of the late 1970s, although its price information and some gemological interpretations are now dated.