Ammolite is made of fossilized mother-of-pearl from extinct nautilus-like creatures called Ammonites. Its beautiful, opal-like play of colors make it a valuable gemstone for jewelry.Since it was only recently discovered, there is little standardization in grading ammolite; quality is therefore more subjective than with many other Ruby Gemstones. Good quality ammolite has bright colors and strong iridescence.Ammolite is extremely rare and very difficult to process; even a small amount may be expensive. Ammolite is also very soft and easily damaged; it is frequently prepared with protective coverings and backings. Always protect ammolite jewelry as you would any other organic jewelry; keep it away from anything that might scratch it.