What does the term "mine lot" or "mine run" refer to?

The term "mine lot" or "mine run" refers to an unsorted mixture of gem qualities from a particular mine. This classification indicates that the gemstones have not undergone any sorting or grading process and include a variety of qualities, ranging from low to high-grade stones. As such, it provides a raw representation of the material extracted from the mine, capturing the full spectrum of potential gem qualities that can be found in that specific location.

This context is critical for understanding the gemstone market and how gemstones are processed. Collectors, dealers, or manufacturers might purchase a mine lot to access a wider variety of stones, which they can then sort and grade according to their quality and suitability for specific uses.