Peridot is the National gem of Egypt. Ancient Egyptians knew it as “the gem of the sun.” Peridot was mined for over 3,500 years on St Johns Island. As late as the 19th Century, the Kedhive of Egypt had a monopoly on the mines. At one point, the island’s exact whereabouts became a mystery for several centuries until being rediscovered in 1905. Joel Aram, from the “Color Encyclopedia of Gemstones 2nd Edition,” writes “Zabargad is an island in the Red Sea that is often shrouded in fog, making it difficult for ancient navigators to find. The location has been lost in fact, for centuries, and was rediscovered in about 1905. The island is located 35 miles of the Egyptian coastal port of Berenica.” In the 19th Century, the mines on Zabargad Island produced millions of dollars worth of peridot. After 1905, production of the gems peaked, but by the late 1930’s it tapered off to practically nothing and reached a virtual stand still in 1958, when the mines were nationalized. Although parcels of St. Johns peridot still come into the market once in a while, it is not known whether it is new or old. Most assume it is old.
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http://www.jewelsforme.com/peridot-history.asp
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