Peridot is a well-known and ancient gemstone. The mineral Olivine creates gemstones called Peridot and Chrysolite. In Peridot, it creates a spectrum of color: lovely light-green to a rich olive-green. The intensity of color depends on the amount of iron and magnesium present in a Peridot's chemical structure; the more iron it contains the deeper green it will be. The most desirable color of Peridot is deep olive-green with a slight yellowish tint. Deeper olive-green tones tend to be more valuable than lighter colored greens and yellowish-greens.