To find a flawless emerald is rare. This makes it one of the most precious of all the gemstones. This rarity lends itself to the high price tag. Due to the expense there were many attempts to create synthetic emeralds. In 1935 Carroll Chatham succeeded and grew the first 1-carat Chatham emerald. If you wish to see this innovation, it’s currently on display at the Smithsonian Institute in Washington DC.