Value of Coral
Coral reefs provide economic benefits worth $30 million dollars annually. However, coral goes beyond monetary value. Coral reefs provide food and shelter for millions of people and animals. They also protect coastlines from storms and erosion.
Fine coral can sell for thousands of dollars. Antique coral sells for over $15,000. Red coral typically costs between $3 to $145 per carat.
Coral Prices
When the main trunk of black coral is wider, longer, and has more branches with solid black color and no problems, the price can exceed $20.
Select black coral pieces cut for specific purposes are worth $2-5. Comparable antipatharian coral is worth hundreds of dollars.
Economic Value of Coral Reefs
Coral reefs contribute $375 billion per year in economic products and services. Those in southeast Florida have an asset value of $8.5 billion. They generate $4.4 billion in local sales, $2 billion in local income, and 70,400 full and part-time jobs.
Factors Affecting Coral Value
The quality of a coral piece is critical in determining its worth. Higher-quality corals are free from imperfections such as spots, pits, cracks, or discoloration. Corals with well-defined, intricate, and symmetrical structures are more desirable and valuable. Rarity also impacts value.
Coral as Precious Stone
Lakshmi coral is the best coral stone. This red triangular gemstone is ruled by Lakshmi, goddess of wealth. Red coral is the most valuable precious coral. To test real coral, it effervesces and dissolves in acid since it’s calcium carbonate.
Coral’s Contribution and Conservation
Coral reefs protect coastlines from storms and erosion. They provide jobs for local communities and opportunities for recreation. Over half a billion people depend on reefs for food, income, and protection. Fishing, diving, and snorkeling on and near reefs add hundreds of millions of dollars to local businesses.
Coral trade still threatens some species due to high demand. Careful regulation is needed to ensure coral conservation while supporting livelihoods.