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Jewelry consultant Deirdre Lally, GG spoke to iMag about great ways to save on an engagement ring.

As we were all reminded by the sapphire dazzler on Kate Middleton’s finger, engagement rings need not be diamonds.  Not only do colored gemstones make spectacular and unique rings, they are generally more affordable. 

One of the most popular colored stones to use for engagement rings is the sapphire.  In fact, blue sapphires are the most widely used colored gemstones in the United States.  Maybe one of the reasons is its rich history - sapphires have been prized by royalty for centuries.

Sapphires are very hard stones, and are next in hardness only to diamonds. Their extraordinary durability and toughness make them quite desirable and perfect for engagement rings.

Color is generally the most important factor in a sapphire’s value. The color can appear in a wide array of hues and saturations ranging from very light to dark purplish-blue to greenish blue. You want to look for a stone with a medium to medium-dark blue to violet-blue color.  A rich, intense blue such as a cornflower or royal blue shade is ideal.  The most highly prized of these is known as the “Kashmere” sapphire.  These valuable and rare stones are a true cornflower blue with a rich, velvety luster.

Try to avoid sapphires with color zoning, a grayish color or an inky blue-black tone. Some inclusions are fine as that is typical of all but the rarest sapphires but do look for stones that are clear with no imperfections visible to the naked eye. Avoid stones with deep inclusions that reach all the way to the surface. Such stones may fracture on hard impact.

Always ask to see the sapphire with a jeweler's loupe. This will enable you to clearly see the inclusions that are in the stone.

Blue sapphires may be the most widely known, but corundum (sapphire’s mineral species) actually comes in every color of the rainbow.  A fancy sapphire makes a beautiful and extraordinary engagement ring.

Of all the fancy sapphires, padparadschas are generally the most expensive.  These range in color from a pinkish-orange to orange-pink.  They are described as being a sumptuous salmon or sunset color.

Whether they are deep pink, blazing yellow or olive green, fancy sapphires are a lovely alternative to the more traditional blue. 

When sourcing a fancy colored sapphire, the same criteria as the blue sapphire apply. The value is based primarily on its color with a bright, vividly saturated hue and medium tone being the most highly desired.

The only color sapphires do not come in is red. Red sapphires or corundum are known as rubies.  Because rubies have the same characteristics as sapphires, they are an excellent and sensible choice, as well.

The ideal ruby is a rich, intense crimson that is neither too light nor too dark.

On the other hand, some gems while beautiful, do not make the best engagement rings.  They do not have the hardness and durability of other stones and generally do not hold up to everyday wear.  Emeralds are an excellent example of a magnificent but soft stone that can chip easily and would be better worn as a cocktail ring on your right hand.

Moonstones are certainly one of the world’s most unique gemstones.  Their delicate and luminous appearance gives them an almost magical quality.  Because moonstones fall between 6 and 6.5 on Mohs scale of hardness, they make spectacular and unconventional engagement rings.

The light that appears to billow across the gemstone is called adularescence.  It is this adularescence or blue sheen that makes the surface of the stone seem to glow.  

When shopping for moonstones consider three criteria: body color, sheen color and orientation of sheen. The highest quality moonstones have a colorless body free of any yellow or brown tints. They should be transparent to semi-transparent without visible inclusions.  Ideally, the sheen should be an electric blue centered on the top of the stone.   

Moonstone has been prized for centuries for its unusual beauty.  It was extremely popular during the Art Nouveau and Arts and Crafts eras and is currently enjoying a well-deserved resurgence.  Because larger, high-quality stones are becoming harder to source, their price has begun to climb.  However, when compared to diamonds, moonstones make a magnificent and affordable alternative.

While diamonds may be the most common choice for engagement rings, that is exactly what makes colored stones so special.  They are much more unique and personalized.  The rich and vibrant colors make a real statement but are every bit as elegant and timeless as diamonds.

For more great suggestions on saving on engagement rings, click here.

All rings provided by Leon Mege.