It was discovered in an emerald mine on the Prince's birthday. As the alexandrite is so recent, there are no myths associated with it. However, people in Russia do believe that wearing it brings good luck.
Alexandrite color changes with the environment. In sunlight, it gives the appearance of a beautiful green color with a tint of blue and brown. Under artificial lights however, it changes to violet with a tint of red. Thus, its color can be either green, violet, or red depending on the light.
Another Roman myth says that the stone changes according to the different phases of the moon. It is a widely held belief that wearing moonstones brings health, power, victory, and wisdom to a person. It is also known to bestow good fortune on the wearer.
Moonstones get their name from the blue-whitish colored spots that can be seen when they are held close to light. When moved back and forth, the spots glint silver and reflect the rays light which appear similar to moon beams.