The Precious Jewel is said to be a smooth, radiant, eight-sided gem in the form of lapis lazuli. It has the luminosity to light things in the dark and grants all wishes made by the universal monarch and his subjects. It is known to possess eight magical qualities including inner & outer healing, control of nagas, good weather and prevention of natural disasters as well as untimely death.

The Precious Jewel is part of the Seven Royal Emblems which are the seven possessions of a universal monarch (Chakravartin). Collectively symbolising secular power, they are one of the traditional offerings on a Buddhist altar. From a spiritual perspective, they represent boundless wisdom, inexhaustible spiritual resources and invincible spiritual power over inner and outer obstacles.