"Coral is in great demand in this country and fetches a high price, for they delight to hang it round the necks of their women and of their idols" ~ Marco Polo (from his Tibet explorations in the 13th century)
Tibetans generally regard red coral as being more precious than gold (the most prized beads are selling for as much as $200 per gram in Tibet). Salmon orange to deep red beads are always the most valuable. Round beads are also more sought after than other shapes. Coral has long been used for adornment and is also used in Tibetan medicine as an antidote to poison. In the Tibetan culture, red coral is traditionally worn to ward off negativity. It is often passed from mother to daughter or given as part of a dowry.
The majority of antique 'Tibetan' red coral actually originated in the Mediterranean Sea. It travelled along the silk trade route via Iran, Samarkand, Ladakh and then finally ended up in Lhasa. It was also traded to India by a direct sea route from the end of the 15th Century. This made it much easier for Tibetan traders to get a more regular supply. Mediterranean coral is now protected from harvesting, so it is difficult to find undyed beads. The marketplace offers many fake coral beads and dyed alternatives, however, they can never be a substitute for the real thing!