Nephrite jade was considered more valuable than gold or silver. Nephrite jade in New Zealand is known as "pounamu" in the Māori language, and is highly valued, playing an important role in Māori culture. It is considered a "taonga", or treasure, and therefore protected under the Treaty of Waitangi. The exploitation of it is restricted to Ngai Tahu and closely monitored. The South Island of New Zealand is "Te Wai Pounamu" in Māori — "The [land of] Greenstone Water" — because that is where it occurs. Weapons and ornaments are made of it; in particular the "mere" (short club), and the
Empire Nephrite (Fabergé egg) some Fabergé researchers were of the mistaken opinion that this egg featured a portrait medallion of Alexander III of Russia, though the original bill did not refer to a portrait of Alexander III. This mistake was result of a misinterpretation of the Moscow Armory Chamber valuables selection list. This list noted an "Egg from nephrite, on a golden base, and with portrait of the Emperor Alexander III in a medallion". Because of this, many researchers were certain that the 1902 Imperial egg featured an Alexander III portrait, though there is no evidence to support this. However, in 2015, during research