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Joy Jewelers Tip: Moissanite isn't just made into beautiful diamond-like rings. You can also purchase moissanite in different forms of jewelry. Many people choose to purchase loose moissanite stones to save money. Loose moissanite is also one alternative to picking out a moissanite ring as a gift -- purchase a loose moissanite stone and let the person choose his or her own metal and setting to go with it.