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Precious in the context of jewelry means “of high value” and is applied to both metals (platinumgold, and silver) as well as to rare minerals that are used in jewelry. The term “precious stone” is equivalent to “gemstone“. An old and nowadays discouraged term is “semi-precious” and it indicates minerals that are worn as gemstones but are more common and less expensive than, for example, diamondcorundum or emerald.