Once considered more valuable than diamonds, a peridot ring is a must have. This "gem of the sun" is the birthstone of August and is a beautiful match for the lush green tapestry of late summer. Brown gemstones are gaining in popularity and smoky quartz is an affordable choice. A smoky quartz ring goes well with autumn colors and evening wear. Once considered more valuable than diamonds, a peridot ring is a must have. This "gem of the sun" is the birthstone of August and is a beautiful match for the lush green tapestry of late summer.