Perhaps the Iranian monarchy knew something the rest of the world didn't know. For their Crown jewels enjoyed the largest collection of red spinel in the world. At their finest, red spinel rivals ruby in color, hardness and clarity, but for a fraction of the cost. You can have a top quality spinel for about $2,500 per carat. When you consider a comparable ruby would cost ten times that amount, it's a bargain.

The reason this 22nd wedding anniversary stone doesn't get the credit it deserves is partly due to its relative scarcity. There just isn't enough of it available to promote. Synthetic spinel is also frequently used for costume jewelry, so it gets a bad rap. Don't be fooled, spinel can be a beautiful, affordable alternative to red rubies as well as pink and blue sapphires.

Spinel is found in Myanmar (Burma, home of the world's finest rubies) Sri Lanka, Tanzania, Russia and Thailand and has been admired for its deep red glow since around 100 B.C. when it adorned a Buddhist tomb in Afghanistan.

Also available in pink, violet, orange, blue and rose, spinel is judged for value by color, clarity and carat weight. And since spinel is commonly flawless (eye-clean) gem quality specimens must be very clean. Make sure to examine the stones under various lighting sources from all angles for black patches or cracks which will dramatically reduce their value. But if it's ruby red you're after without going in the red, spinel is the way to go!