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Ruby has been the world's most valued gemstone for thousands of years. Ruby was said to be the most precious of the twelve stones God created when he created all things and this "lord of gems" was placed on Aaron's neck by God's command. The bible says that wisdom is "more precious than rubies," that is to say very valuable indeed. In the ancient language of Sanskrit, ruby is called ratnaraj, or "king of precious stones" and ratnanayaka, "leader of precious stones."

The most important factor in the value of a ruby is color. The top qualities are as red as you can imagine a saturated pure spectral hue without any overtones of brown or blue. The word red is derived from the Latin for ruby, ruber, which is derived from similar words in Persian, Hebrew, and Sanskrit. The intensity of color of a fine ruby is like a glowing coal, probably the most intensely colored substance our ancestors ever saw. It is no wonder they ascribed magical powers to these fires that burned perpetually and never extinguished themselves. 

Ruby is the gem quality of the mineral corundum, one of the most durable minerals, which exists, a crystalline form of aluminium oxide. Corundum has a hardness of 9 on the Mohs scale and are also extremely tough. In its common form, it is even used as an abrasive.

The most famous source of fine rubies is Burma, which is now called Myanmar. The ruby mines of Myanmar are older than history: stone age and bronze age mining tools have been found in the mining area of Mogok. Rubies from the legendary mines in Mogok often have a pure red color, which is often described as "pigeon's-blood" although that term is more fanciful than an actual practical standard in the trade today. Myanmar also produces intense pinkish red rubies which are also vivid and extremely beautiful. Many of the rubies from Burma have a strong fluorescence when exposed to ultraviolet rays like those in sunlight, which layers on extra color. Burma rubies have a reputation of holding their vivid color under all lighting conditions.

Fine rubies are also found in Thailand. Thai rubies tend to be darker red in tone: a real red, tending toward burgundy rather than pink, as Burma rubies do. Some Thai rubies have black reflections, a phenomenon called extinction, which can make their color look darker than it really is. But Thai rubies also can have a rich vivid red that rivals the Burmese in intensity. Sri Lankan rubies can also be very beautiful. Sri Lankan stones are often pinkish in hue and many are pastel in tone. Some, however, resemble the vivid pinkish red hues from Burma.

Occasionally a few fine top-quality rubies appear on the market from Afghanistan, Pakistan, or the Pamir Mountains of the Commonwealth of Independent States. The terrain in these areas has made exploration for gemstones very difficult but someday they may produce significant quantities for the world market.