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. A sparkling white topaz ring is just the thing if you like diamond jewelry but you're on a budget. We won't tell if you won't! One of the oldest gemstones in history, garnet is the birthstone of January. Garnet rings have been popular since Victorian times, and are treasured for their deep red color.