For many years Iolite was predominantly employed as a cheap substitute for blue sapphire and tanzanite. Commonly referred to as water or lynx sapphire, these brilliant blue gemstones are one of the best buys on the market today. But don't procrastinate too long, for iolite is quickly gaining in popularity in its own right. Right now, you can still get high quality iolite for under $200 per carat. This is a bargain considering its naturally deep blue face-up appearance. This 21st wedding anniversary stone also claims a unique property that sapphire and tanzanite cannot claim: aside from facing-up sapphire blue, it will appear gray to yellowish or colorless from another direction and light blue or violet from yet another (an effect called trichroism.)

Iolite gets its name from the Greek, "ios" for violet, and ranges in color from deep blue to light blue, gray and yellowish blue-gray. The world's main resources for iolite are Sri Lanka, Brazil, Myanmar (Burma) Madagascar, Canada, India, Tanzania and Namibia. Some of the Sri Lankan iolite is called "bloodshot iolite" when a peculiar inclusion is present that causes a stone to appear red if viewed from certain angles. Iolite is generally "eye-clean" and is fairly hard (7 to 7.5 on the Mohs scale.)

Iolite has been found in ancient Columbian remains, and the Vikings used to use the stone as a compass on cloudy days as its trichroic qualities allowed them to find the sun through the fog.

So, if it's blue you want, check out this baby blue before it gets too popular. You just may find yourself way ahead of the pack.