AZGem Gems

February 2016

 

gem stone and jewelry newslettergem stone and jewelry newsletter

 


The World's Most Useful
Gem & Jewelry Monthly Newsletter

Written by Carolyn Doyle for customers of
The Dorado Company

and other visitors to the azgem.com website who subscribe.

 

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Usable Gems... and a little opinion.

  

World’s Largest Blue Star Sapphire

 

world’s largest blue star sapphire

 

The world’s largest blue star sapphire is a recently discovered gem from Sri Lanka.

Sri Lanka is a lush, green, island off the coast of India. It was formerly known as Ceylon, It is famous for producing gemstones, especially sapphires, Gem sapphires of all colors are found there, but relatively few containing the asterism necessary to display the star effect. And only a tiny fraction possess the blue color and the star phenomenon.

The World’s Largest Blue Star Sapphire is a desired and very valuable designation. It means this gem will be coveted by museums and private gem collectors around the globe.

And the gem holding this "world's largest" distinction is on the market right now. The current owner is a Sri Lanka gemstone dealer who purchased the rough stone from a local - presumably an independent mine owner. The dealer and the seller remain anonymous, and the purchase price is undisclosed.

 

 

sri lanka regions map

 

The mine that yielded the gem is not specified, but is known to be near the city of Ratnapura, a major city in Sri Lanka. Ratnapura is the capital city of Sabaragamuwa Province, It is located in the southern portion of this island nation.

Ratnapura is probably the main trading center for the island's gems. This is where miners sell and gem dealers buy the stones recovered from the area's buried gravels of ancient rivers and streams.

 

 

world’s largest blue star sapphire

 

The world’s largest blue star sapphire possesses very good color, and the size is awe inspiring. After working the gem to bring out the star, the gem weighs 1404.49 carats. The owner believes the stone is worth "at least" 300 million U.S. dollars. I hope for his sake he is not being overly optimistic.

 

 

huge blue star sapphire

 

"Working the gem" means fashioning the sapphire crystal into a dome shaped cabochon. The rough crystal was not naturally rounded enough to allow light to reflect off of the hair-like rutile needles contained in this sapphire crystal.

Rutile is a mineral that (in sapphire) can crystallize in strands within the sapphire crystal. These strand formations are referred to as needles, or silk,

Sapphire crystals that include rutile crystal inclusions grow in such a way that the rutile needles are oriented at 60 degrees to each other. When a single source of light strikes the dome-shaped gem, light reflects off the rutile crystal inclusions, producing the 6 rayed star.

 

sri lanka gemstone mine

 

Now that the existence of this gem has been revealed, some information is becoming known. It was found in the Fall of 2015 and was purchased by the gemstone dealer shortly thereafter. 

 

huge blue star sapphire

 

There is a small indentation in the shape of the finished gem, but that has little impact on the appearance of the huge star. If this important gem finds a home in a museum, you may get to see it for yourself.

The world’s largest blue star sapphire has been named The Star of Adam, in tribute to a Muslim belief that Adam went to Sri Lanka after he was banished from the Garden of Eden. Sri Lanka has many geographical features and landmarks bearing the name of Adam.

 

gem news

 

Photo Information

 

Top - World’s largest blue star sapphire illustrating size

Next - Map of Sri Lanka

Next - World’s largest blue star sapphire showing star

Next - World’s largest blue star sapphire being worked

Next - Example of a typical Sri Lanka gem mine

Next - World’s largest blue star sapphire showing natural indentation

Next: - Gem special offer - 10 Carat Amethyst

Next - Industry News - Logo of the Financial Crimes Enforcement Network

Next - Dealer Product Image - Amethyst Ring in Sterling Silver

Last - Dealer Program Image - Pink Spinel and Sterling Silver Earrings

 

 

$1.99/Mo. for 12 months of Economy Hosting at GoDaddy.com

 

A Google search for links or images using keywords such as asterism or sri lanka geology can return some very interesting information and websites.

 

Google

 

Gem Offer

 

gem special offer amethyst trillion

 

Here is this month's special gem deal. 

 

Gem:     Amethyst

Color:    Excellent royal purple

Quality:     AAA

Shape:     Trillion 

Dimensions:     14.7 x 14.6 mm

Weight:     10.92 carats

Price:     $195, plus shipping ($5)

Amethyst is a very popular gemstone. It s relatively hard, and toughness, a range of shades of purple, and is affordable.

This particular amethyst's origin is listed as South America. Judging by the color, it is probably from Uruguay or Brazil.

Amethyst is the February birthstone.

Send me an email (with anti-spam) (carolynatazgemdotcom) and tell me that you want this fine gem.

We have other  shapes, sizes, and shades of gems available.

We keep gem prices low by buying quality gemstone rough worldwide, and having the rough material cut by our gem cutters in Asia.

 

gem newsletters

 

Gem Industry News

 

Dealer Did Not Follow Patriot Act

 

 

Are you aware of the existence of a federal agency named the Financial Crimes Enforcement Network? The stated mission of the agency, also known as FinCEN, is...

FinCEN's mission is to safeguard the financial system from illicit use and combat money laundering and promote national security through the collection, analysis, and dissemination of financial intelligence and strategic use of financial authorities.

 

There are news articles about an enforcement action recently taken against a precious metals dealer. Gemstone dealers can also be subject to provisions of the Bank Security Act.

The FinCEN press release states...

 

FinCEN Assesses Money Penalty against Precious Metals Dealer for Violations of Anti-Money Laundering Laws

WASHINGTON, DC – The Financial Crimes Enforcement Network (FinCEN) today announced the assessment of a $200,000 civil money penalty against a Los Angeles precious metals business, as well as its owner and compliance officer. B.A.K. Precious Metals, Inc. (B.A.K.), its sole owner, Bogos Karaoglanyan, and its designated compliance officer, Arman Karaoglanyan, have admitted to willfully violating federal anti-money laundering (AML) laws, known collectively as the Bank Secrecy Act (BSA). This is FinCEN’s first action against a dealer in precious metals, precious stones, or jewels.

“Gold and other precious metals are a highly concealable, transportable, and concentrated form of wealth that can be readily abused by criminals seeking to move and hide dirty money.” said FinCEN Director Jennifer Shasky Calvery. “Dealers in these precious metals must do their part to ensure criminals are not able to use their products and services for such nefarious ends.”

FinCEN has delegated to the Internal Revenue Service (IRS) the authority to examine dealers in precious metals, precious stones, or jewels for compliance with the BSA and its implementing regulations. B.A.K. was the subject of a BSA compliance examination in 2011 and again in 2013. B.A.K. did not have any AML program in place until 2011, five years after the business was established and only after the IRS examiners instructed it to implement one. And when the examiners returned in 2013, B.A.K.’s AML program was lacking in several material respects, and B.A.K., its owner, and its compliance officer often ignored the AML program.

B.A.K. failed to adequately assess its risks and did not conduct due diligence on its highest risk customers. In 2011, B.A.K. began dealing in large sums of gold with new customers, with transactions ranging between $14 and $23 million. This helped B.A.K. nearly double its total yearly volume, which reached $120 million by the end of 2012. Despite this significant change in volume and customer base, B.A.K. chose not to require any documentation or identification prior to conducting business with many of these new, high-volume customers. Moreover, the purchase orders documenting these transactions, many of which were over $100,000, contained

only the business name and included no identifying information on the underlying individuals. These failures presented great risks for criminal abuse.

In addition to the fine, B.A.K., Bogos Karaoglanyan, and Arman Karaoglanyan also agreed to several undertakings to extend through 2020, including retaining an external auditor, providing a comprehensive annual report to FinCEN outlining the implementation of its improved AML program, and annually providing a copy of, and certifying attendance and testing results of, B.A.K.’s AML training program.

FinCEN Director Jennifer Shasky Calvery expressed her appreciation to the Internal Revenue Service, Small Business/Self-Employed Division, which performed the 2011 and 2013 examinations, for its contributions to the investigation and for its strong partnership with FinCEN.

 

gemstone news

 

Jewelry Dealers

 

jewelry dealers wholesale

 

February is the month for amethyst. Although amethyst is probably the most popular gem for jewelry year around, now is an especially good time to market amethyst jewelry to your customers. Check your customer profile records to see who has a family member with a February birthday.

Be The Quality Jewelry Discounter.

 

 

gemstone news

 

Jewelry Dealers Program

 

jewelry dealers program

 

Do you enjoy jewelry and gems?

Do you enjoy talking with friends and friends of friends?

Could you use an extra income source?

Take a look at our great Jewelry Dealers Program.

 

 

Carolyn Doyle

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