Judging quality
The sheen only appears along one plane, so the cutter's orientation makes or ruins the piece. Rotate it under a single strong light: real rainbow obsidian shows nested rings, not a surface film.
Volcanic glass
Black obsidian containing aligned nanoscale magnetite crystals that throw concentric bands of green, gold and violet when the stone is oriented and polished correctly.

The sheen only appears along one plane, so the cutter's orientation makes or ruins the piece. Rotate it under a single strong light: real rainbow obsidian shows nested rings, not a surface film.
Glass; scratches show badly on the polished face.
Mexican rainbow obsidian from Jalisco has been carved since the pre-Columbian era — Aztec mirrors of obsidian were polished from exactly this material.
Cultural history, recorded as tradition rather than as medical or scientific claim.
See it in person
Both rooms are open six days a week, and there is always someone happy to pull pieces out of the case so you can compare them under the light.