One reads constantly in the daily papers of sales where the prices given are enormously beyond the sums actually paid, for the public like big figures. Reporters know this and do not fail to supply the demand. For instance: in an eastern city of the United States, a man while at a lunch counter found a pearl in the oyster he was eating. He took it at once to a jeweller of his acquaintance who handed it to a New York pearl-dealer present and asked him to value it.

The pearl was large and round but, like all such formations in the edible oyster, quite devoid of the nacre which constitutes a true pearl. The dealer so informed them, adding casually, "If it were a true pearl it would be worth several thousand dollars." An evening paper that day had a half column story about it with, "A pearl worth five thousand dollars found in an oyster at a lunch-counter," in black head-lines, and the morning papers of the following day enlarged the story by adding fanciful details.

Undoubtedly in the old days of license when immense fortunes were made not only in trade but by piratical wars, large prices were paid by fortune's favorites for pearls but it is extremely probable that report, bruited from mouth to mouth, exaggerated even more than the printed fables of our times do. It is doubtful if the pearls of ancient chronicles were as fine, judged by the standards of to-day, as we imagine or that all of them were as large as reported. The public were more ignorant about them than now and also more credulous and these invite exaggeration.

Very large pearls which for perfection of shape, luster and freedom from flaws are beyond criticism, are the most rare of all gems. The conditions under which a pearl grows, makes large size, without the development of irregularities in the form and imperfections in the skin, almost impossible; and as they all grow in the same way, by the same process, out of the same sources of supply and subject to the same limitations, we find big and little, fine and ordinary, in about the same proportions as they occurred thousands of years ago; the fish that made them then makes them now, in the same kind of a narrow workshop and within the bounds of a life whose duration has not changed.

Of very ancient historic pearls, the only one of which we have reliable and expert knowledge, is that of the Shah of Persia seen by Tavernier. This and La Peregrina are supposed to be still in existence. Of the very large pearls generally mentioned by writers, three undoubtedly exist, viz., La Pellegrina, the Beresford Hope and one of medium quality in the Austrian Crown weighing about twelve hundred grains.

It is probable that very many pearls have been found, which if generally known would have become celebrated, but of those chronicled, most have passed out of public knowledge. It is probable that some of those about which much has been written were not as beautiful as others which have escaped notoriety. The writer's habit of drawing upon the past to illustrate a subject, has narrowed the literature of pearls to reiterated records of a few great pearls which one by one have been brought to public notice during the past centuries.

Exact and reliable statements about gems are a modern innovation. In the old times unverified report was the only evidence the general public had of them. Crown jewellers, not always quite reliable, would make public some statements in general terms about the jewels of a reigning house. Occasionally, as in the case of France, the state had the crown jewels inventoried so that some fairly definite knowledge could be had of them. Infrequently a traveller published his observations, made under more or less favorable circumstances, of the jewels of some oriental prince. Chief of these was Tavernier, the French jeweller. He not only had expert knowledge of gems but was able by recommendations of the French court, to gain such access to the jewels of eastern princes and dealers that he could make critical examinations of them.

For various reasons it is extremely difficult also in these days to obtain accurate knowledge of extraordinary gems. Dealers for business reasons are chary of information, nor will they make such pieces common by allowing many to see and handle them. The buyer is equally averse to publicity, so that exact knowledge does not pass far beyond the dealer and his customer as a rule.

The finest pearl known is that in the Museum of Zosima, in Moscow, called La Pellegrina. It is perfectly round and so lustrous that it appears to be transparent. It weighs about 112 grains and was bought of the captain of an East India ship at Leghorn.

The largest known pearl to-day is in the Beresford Hope collection shown at the South Kensington Museum, London. It is two inches long and its circumference is four and a half inches. It weighs three ounces (1818 grains).