It is "Olympus Australis," the largest and most valuable gem opal in the world. It was found at the 8 Mile Opal Field in Coober Pedy, South Australia. The year was 1956, when Melbourne was hosting the Olympics, so the stone picked up an Olympic-related name. You may know that Australia has all sorts of minerals within its borders, to the point where mining helps to finance the rest of the nation's economy.
This rock isn't going anywhere in terms of generating wealth, however. It's owned by Altmann and Cherny Pty. Ltd., which is located in downtown Sydney. Our tourist group had the chance to see it during our visit. It's kept in a safe for obvious reasons. The stone weighs about seven pounds.
Value? Back in 1997, it was appraised at $2.5 million (Australian). Inflation certainly has pushed that figure up substantially.
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