Pyrite Jewelry is a crystalline mineral which is also known as fool’s gold. It is one of Earth’s naturally occurring minerals. In Jewelry making, Pyrite is used as iron ore, which is why it also goes by “Iron Pyrite.” The word “Pyrite” comes from the Greek word “pyr” or “pyros,” which means fire. This is due to Pyrite’s unique property of creating sparks when struck against hard surfaces. Because of its hue and shine, Pyrite is often mistaken for real gold.