Are rubies the July birthstone?
Rubies are the July birthstone and a traditional gift for those celebrating 15th or 40th anniversaries. The name ruby comes from the Latin word ruber, which means “red.” They date back almost 2000 years and are referenced four times in the bible. They are rare precious stones cherished by royals and aristocrats and can cost anywhere between a few hundred to thousands of dollars. High-quality rubies that weigh over 10 carats can sell for much more than a similar-sized diamond. Some large rubies have fetched sale prices upwards of $225,000 per carat.
Ruby gemstones are pink to dark colored cardinal red gemstones. They get their color from the presence of chromium within the mineral. The most precious rubies are those with a full, rich red color with a hint of blue tones. Their brilliant red color is associated with power, excitement, passion, love, romance and desire. Ruby stones are thought to possess some healing powers by some plus signify wealth and success.
Most quality rubiy stones come from Myanmar but are also found in Thailand, Pakistan, and Sri Lank as well as all over the world. The value of rubies and emeralds is determined to the Four C’s: cut, color, clarity, and carat. Rubies are most commonly seen in cushion or oval cuts and rarely have perfect clarity (part of their charm). Almost all natural rubies are treated to improve their color and strengthen them. This is a standard, accepted practice in the jewelry industry.
Famous ruby gemstones are The Sunrise Ruby sold at Sotheby’s in Geneva for US$30m in 2015 to an anonymous buyer. This ruby is a 25.59-carat “pigeon’s blood” ruby, and was originally mined in Myanmar. It is named for a poem by the 13th Century poet, Rumi. The Jubilee Ruby, weighing 15.99 carats, was sold at auction in the United States for $14.2 million, which equates to $885,000 per carat in Dec 2019 Set in a distinctive gold and diamond mounting by Verdura.
Rubies are one of the 4 precious gemstones: diamonds, emeralds, sapphires and rubies. Rubies usually command a higher price per carat than emeralds.