Spectacular "Gem" Ammonite, Placenticeras costatum. Late Cretaceous Bearpaw Formation, Alberta, Canada. Photo Heritage Auctions

Spectacular "Gem" Ammonites are highly prized in museums and collections around the world.

This fine specimen dates back 70 million years ago and is an excellent example of what is considered a Canadian national treasure - from the premier fossil locality for gem ammonites.

This locality is the only place in the world that produces Ammonite specimens with unbelievable bright, beautiful and iridescent colors. In fact, the preservation is so good that the World Jewelry Confederation gave the fossilized shell material, known as Ammolite, gemstone status in 1981, the same year commercial mining of Ammolite began.

The color is primarily a function of the fossil preservation of the shell nacre. Significant deposits of gem-quality Ammolite are only found in the famous Bearpaw Formation in southern Alberta, Canada.

This incredible specimen has numerous features which set it apart: First, it shows an abundance of blue and purple coloration on the shell which is not typical for even the most colorful of specimens; Second, the ammonite is quite large, and the fossil is also rather inflated, whereas most of the matrix specimens have been flattened and, although colorful, lack the three dimensional aspect of this museum-quality piece.

This stunning jet black matrix measures 43 x 27 x 3 inches (109.22 x 68.58 x 7.62 cm). The gem ammonite itself is an impressive 17 x 16 inches (43.18 x 40.64 cm) and has dominant patches of brilliant blue, purple, green, red and gold. Estimated Price: $50,000 - $60,000

The piece is fitted for hanging with double metal cleat hangers and comes with a Certificate of Authenticity. This specimen is worthy of any fine museum or gallery.

Heritage Auctions. 2013 June 2 Natural History Signature Auction Session 2. Phone: 800.872.6467 - Email: Bid@HA.com