There was a time, in the not too distant past, when all yellow and almost all green gemstones were called topaz. Perhaps this is why topaz isn't appreciated as it should be. Another reason it is considered common is that blue and green topaz is so readily available that it can cost as little as $20 per carat. But the golden-orange variety displays red and pink overtones it is called "Imperial Topaz" and can sell for over $2,000 per carat. Imperial topaz is also November's birthstone as well as the 23rd wedding anniversary stone. Lacking the reddish overtones, however, the lofty moniker, and value, is lost.

This doesn't mean that top-grade red and pink topaz is worthless. On the contrary, when fine specimens of these hues are found, they can cost as much as spinel of equal quality.

Most topaz is mined in Brazil and comes out of the ground in shades of light brown. It is then heat treated until it turns a lovely shade of pink. When natural red, orange and pink topaz is found (mostly in Pakistan) it can have lovely brilliance and clarity.

A couple of things to be wary of:

1. Although very hard, topaz is also brittle, and can shatter with a single blow.
2. Much quartz is passed off as topaz on the market. Make sure to get "genuine topaz" clearly written on your bill of sale. Look out for names like "Bohemian Topaz," or "Occidental Topaz."
3. A lot of topaz is irradiated and heat treated for color change. Have all treatments printed on your receipt.

Other than that, there is no reason not to take advantage of the brilliant color and clarity available from this beautiful species of gemstone.