Our History

Step back in time and delve into the rich tapestry of ‘Our History’ at The Natural Gemstone Company. Our chronicle isn’t just a series of dates; it’s a captivating tale of passion, craftsmanship, and an undying love for nature’s treasures. From the visionaries of our founding generation to the master artisans of today, each era has contributed its own chapter of innovation and artistry. Join us as we journey through time, celebrating the milestones that have shaped us into the gemstone connoisseurs we are today.

Our four generations of company history is based on a profound love and respect for all things mining and gemstone related. It moved with the family from Germany to the New World in the mid-1800s when Nathan Arnstein and his wife arrived in New York in the 1860s equipped with a family trade, and a drive to make a better life. That drive would take their son Samuel Arnstein out west to prospect, settling in Leadville, Colorado in 1880 during a mining boom.

Samuel Arnstein would prospect for gold, silver, and copper throughout New Mexico, Colorado, and Montana before returning to New York with his wife and children to raise their family. Samuel’s son, Walter, developed an early interest in investing in gemstones and mining and then would enter the industry by purchasing several bonds and shares of businesses.

The gemstone trade proved to be a lucrative business prospect in the early part of the 20th century, with little competition and rapid growth. In 1939, Walter Arnstein narrowed the company’s focus on buying and selling sapphires and other precious gemstones, and The Natural Sapphire Company was born. At that time, gemstone enhancements and synthetic stones had not yet been invented, so Walter dealt only with natural untreated sapphires, and he developed a great passion for the natural beauty he saw in those sapphires, especially the colorless, or white, variety.

In the early 1900’s, diamond engagement rings had become popular in the US with the emergence of the immigrant middle class. However, most people still could not afford the high price of a diamond and sought alternative gemstones. This created a burgeoning market for diamond substitutes. White quartz and other colorless gemstones could not be used for engagement rings as they were too soft and brittle to survive everyday wear. White sapphires, however, were extremely durable and were quickly acknowledged as the best alternative to a diamond. Walter Arnstein recognized the potential in white sapphires and sought to specialize in this unique market.

During the latter half of the 20th century, white sapphires were the most popular alternative stone for an engagement ring.

Cubic zirconia eventually took over the white sapphire market in the 1970’s when Russian scientists successfully created the first one in a lab. Rubies and blue sapphires became a stronger focus in the family business as the industry continued to evolve and grow.

A few of our early print ads plus an original draft of a star sapphire advertisement in the 1940’s. The ad went to print in some of the first jewelry magazine publications in New York.

The Company Grows

Turning back to the business of The Natural Sapphire Company, Walter continued to focus on making the company a family affair. Janette, Walter’s wife, worked side by side with him for over 50 years, assisting with marketing, sales, and maintaining meticulous books. Seymour Arnstein, Walter’s son, joined the company in the early 1970s, and continued the family tradition with an even greater focus of working in natural sapphires.

Seymour expertly guided the firm through the many boom and bust years of the 1980s and 90s, but while stock markets have fluctuated, the value of fine colored gemstones has always endured. We continued to expand our business as the demand for natural rubies grew through the end of the 20th century.

Michael, our third generation president, began working at the company in the mid-1990s and was the driving force behind creating our e-commerce website TheNaturalRubyCompany.com. In 2018 Samuel Arnstein, 4th generation family, began his journey into the wondrous world of gemstones, just as his father, grandfather, and great-grandfather had done before.

Now, after 80 years in business, we continue to lead the industry. We are a team of gemologists, designers, jewelers, CAD engineers and craftsmen, all dedicated to preserving the company’s roots and offering the best selection of rare and beautiful natural gemstones.

To meet the people behind The Natural Gemstones Company, visit our Staff Page and say hello!