Peridot is mined in China, Burma, Australia, the US, Norway and Brazil. These stones derive their coloration from the iron they contain. They may be yellowish, bright green or brown, depending on the percentage of ferrous iron.
In the past, peridots were mined on an island in the Red Sea and worn by pharaohs. According to Peter Bancroft, while influential in Egypt, the Ottoman Turks began a series of mining ventures to exploit peridots and formed the Red Sea Mining Company to trade them. Early in the twentieth century, one large gem, 6.6 cm in length, was acquired by the British Museum for $100 from a Cairo businessman who purchased it from company director Ismalum Bey.
In the Middle Ages, these gems were thought to have the power to rout evil spirits. During the Crusades, they were brought home to Europe as loot.
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