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The Greeks possessed all the precious stones, except the diamond, as their jewelry proves, although the ruby, sapphire, and emerald figure as very small specimens in their relics which have been brought to light. The five great gems of the Hindus have always been the same four precious stones, with pearl, which we recognize today. In the Thirteenth Century, diamond was ranked after the pearl, ruby, emerald, and chrysolite by the Persians. It seems that, from about the years 1500 to 1800, the ruby was preferred to the diamond and consequently held first place in value. During this period, also, an over-supply of emeralds from South America depressed the market, but this stone became popular again later.

For some time previous to the Eighteenth Century, the fashion for gems waned, but after a period of neglect and vicissitude, collecting became a mania with the noble and rich of that century. Baron Stosch formed an enormous collection with the aid of Winckelmann. The Dukes of Orleans, Devonshire, and Marlborough, and the Empress Catherine II, the Empress Josephine, and even George III were among those who paid high prices for various specimens. It was about this time that good imitations and pastes became very common, and these deceptions eventually caused some loss in confidence with the public. The taste for gems again waned, and this attitude lasted for many years. But the wealth produced during the last hundred years or so has given a wider public the opportunity of possessing and wearing gero stones in an increasing range of jewelry, and there is at present no sign of any of the precious stones losing favor.

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