Quite a strange stone indeed, Hematite is sold as a heavy, silvery metallic black luster and bulbous shape, with an inner core stained the color of blood.
Ancient texts tells us that this stone was what was once called ‘Bloodstone’, although not the Bloodstone we know of today.
Often in modern times, what is often called Hematite (or Hemalyke), is actually an imitation substance that is (or should be) referred to as Hematine. Hematine is made of stainless steel, comium and nickel sulfides. Hematine resembles Hematite to such a degree that visually it is difficult to discern the difference. However, it is the imitator Hematine that is magnetic, not the natural Hematite. Most Marcasite these days is crafted by faceting Hematite, as actual Marcasite tends to dissolve or erode quickly when exposed to the air.