Gemstones becoming more popular in Indonesia

(31 Jul 2015) LEAD-IN :
Indonesian gemstones are gaining popularity as an alternative to precious minerals like gold.
But experts say the government must set clear rules to value these stones if they are to become an attractive investment in the long run.
STORY-LINE :
The Indonesian town of Garut is well known among residents for its gemstones, and now it has got the whole country talking about it.
These miners work for a prominent landowner in Garut named Abah Endong, who owns a hectare of land filled with precious stones.
They spend 10 hours a day inside one of 16 manmade caves with depths ranging from 5 metres to 60 metres beneath the ground.
Four to 14 miners would usually work as a group in a single cave.
Gemstone mining has taken place on Abah Endong's land since 1994.
His gemstones are particularly well known for their rich colours.
40-year-old Undang Wahyu is one of Abah Endong's eleven children and has been in the gemstone business since 2004.
Undang is responsible for extracting gemstones from a number of caves on his father's land.
He believes gemstones in Garut are unique because they are the result of millions of years of interaction between the local soil, fossil plants, magma and other minerals.
"The quality of our gemstones are unmatched in terms of their colours. They often show a mixture of colours. Some gemstones can have 5 colours or even more," says Undang.
When the gemstones are taken back to town, they are processed into polished stones and rings and sold at local shops or to distributors.
Garut is long considered as one of the biggest suppliers of gemstones on the island of Java.
Many people here collect gemstones because they're believed to possess healing powers, boost self confidence or bring good fortune to their owner.
Most of the buyers come from Garut itself, nearby cities and the capital Jakarta.
Most of the gemstone trade in the country is concentrated in Jakarta.
Undang argues that people look for his gemstones not only because of its quality, but also due to its wide price range from US$5 to a couple thousand US dollars.
"We have a variety of customers ranging from top government officials, middle class to ordinary people because our gemstones come in many prices. Everyone can buy and enjoy our gemstones."
Gemstones have become popular in Indonesia in recent years.
Some experts say that the high price of precious minerals such as gold has driven people to hunt for gemstones as an alternative.
At the Indonesian capital's biggest gemstone centre, the interest in local gemstones has skyrocketed, turning them into a new national pride.
"These gemstones are the products of Indonesian natural resources. Other countries will not have the same gemstones as ours. I really like gemstones and I come here sometimes once a month to find gemstones for my collection," says Budi Prawira, a port worker with a hobby of collecting gemstones.
Gemstone expert Iskandar Husein, who is also the secretary general of Association of Indonesian Traders of Gold and Precious Stones, says gemstones are popular because anyone in the country can dig for them and then sell them for a profit.
At present, there is no specific law that regulates the trade of Indonesian gemstones.
The huge public interest has also translated into a sharp spike in the gemstone price.
Prices for good gemstones can reach up to US$100 per gram, and certain gemstone rings are reported to fetch over US$30,000.
Meanwhile, back in Garut, the mine owners are enjoying a threefold increase in profits due to the rising gemstone price.
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[@AvalonDreamz]

The moss agate from here is my absolute fav. The stones can be made to look so scenic and magical. Some clear as glass with all the colorful minerals inside on full display, there is nothing like it and to me beats other agate elsewhere easy. Just wish it was shown more.

[@samkobaisi1]

dimana kota itu, mau beli