Concerning the meaning of the Hebrew words translated "rubies" there is much difference of opinion. (Job 28:18) see also Prov 3:15; 8:11; 31:10
Some suppose "coral" to be in tended; others "pearl," supposing that the original word signifies merely "bright in color," or "color of a reddish tinge." (The real ruby is a red sapphire, next in value to the diamond. The finest rubies are brought chiefly from Ceylon and Burmah.)
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Smith, William, Dr. "Entry for 'Rubies'". "Smith's Bible Dictionary".