Gemstones, minerals that are treasured for their beauty and durability. A large number of minerals have been used as gems. Their value generally depends on four elements: the beauty of the stone itself; its rarity; and the skill with which it has been cut and polished. Stones such as diamonds, rubies, and emeralds represent one of the greatest concentrations of money value. During times of war or economic disturbance many people convert their wealth into precious stones, which are transportable and more easily sold.
In certain gemstones, notably opals, brilliant areas of color can be seen within the stone; these areas change in hue and size as the stone is moved. This phenomenon, known as play of color, differs from fire and is caused by interference and reflection of the light by tiny irregularities and cracks inside the stone. Opals also exhibit milky or smoky reflections from within the gem. Gems that are fibrous in structure show irregular interior reflections similar to those seen on watered or moiré silk. This optical property, which is called chatoyancy, is exhibited by several gems, notably the tigereye and cat's-eye.
The appearance of a gem as seen by reflected light is another optical property of gemstones and is called luster. The luster of gems is characterized by the terms metallic, adamantine (like the luster of the diamond), vitreous (like the luster of glass), resinous, greasy, silky, pearly, or dull. Luster is particularly important in the identification of gemstones in their uncut state.
Emeralds, rubies, sapphires, amethysts, and synthetic rubies and sapphires are all doubly refracting, whereas diamonds, spinels, synthetic spinels, garnets, and glass are singly refracting. A special dark-field illuminator with a binocular microscope is employed for examining the interior of a gemstone to determine whether it is of natural or artificial origin, and to search for inclusions characteristic of a given gemstone. These tests usually are sufficient to identify the rather limited number of materials used as gemstones; occasionally, however, other instruments are required, including a dichroscope, which measures the property called dichroism, or a spectroscope to determine the characteristic absorption spectra. Hardness, the test ordinarily associated with gem testing, is never used on cut stones by the gemologist. Gems are shaped entirely by being ground on abrasive wheels or revolving abrasive disks. For minerals that are no harder than quartz, natural sandstone wheels are sometimes used, but for the harder stones, such as rubies and sapphires, synthetic grinding wheels of cemented Carborundum (silicon carbide) must be employed.

  The first step in the cutting of a gem is to saw it roughly to shape Thin abrasive disks or metal disks charged with powdered diamond or other abrasives are employed in this process. Wheels (called laps) made of Carborundum or of abrasive-charged cast iron are used to shape the stone. The stone to be shaped is cemented to the end of a wooden stick called a dop and is held against the revolving wheel or lap with the aid of a supporting block placed adjacent to the wheel. This supporting block contains a number of holes in which the end of the dop can be rested. By changing the dop from one hole to another the lapidary is able to control the angle of the facet, or face, being ground. When the stone has been ground to the required shape, it is brought to a high polish on wooden or cloth wheels charged with a fine abrasive such as rouge or tripoli powder. The oldest and simplest of the many standardized shapes or cuts given to gemstones is the cabochon cut, in which the stone is smoothly rounded. The cabochon cut is essential if a star or cat's-eye is to be visible, and is the most satisfactory cut for opal, moonstone, and colorful opaque gems. Cabochon-cut stones usually are rounded on the back; this is sometimes advantageous in improving appearance, but often is done in order to give the stone extra weight.

  Various forms of faceted cuts, in which the gem is given a number of symmetrical plane surfaces, or facets, are universally employed in the cutting of diamonds and are used extensively for other stones as well. The most common cut is the brilliant. In this cut the top of the stone is ground to a flat so-called table from which the sides of the stone slope outward to the broadest portion of the stone, which is known as the girdle. Below the girdle, the sides slope inward at a slightly broader angle to a tiny flat surface, the culet, parallel to the table at the bottom of the stone. The ordinary brilliant-cut stone has 32 facets besides the table in the top portion of the stone (called the crown or bezel) above the girdle, and 24 facets besides the culet on the bottom portion of the stone (called the pavilion or base) below the girdle. In rare cases the number of facets is increased by some multiple of 8. Scientific studies have worked out proportions of the size and inclination of the facets that give the maximum brilliance to a given gem.