gem, treasure -- (art highly prized for its beauty or perfection)
gem, gemstone, stone -- (a crystalline rock that can be cut and polished for jewelry; "he had the gem set in a ring for his wife"; "she had jewels made of all the rarest stones")
jewel, gem -- (a person who is as brilliant and precious as a piece of jewelry)
muffin, gem -- (a sweet quick bread baked in a cup-shaped pan)
jewel, gem, precious stone -- (a precious or semiprecious stone incorporated into a piece of jewelry)