Abstract: The territory of the Balkan Peninsula in SE Europe is reviewed, from the point of gemmology, as the cradle of gem and decorative minerals and metals in European prehistory. During the local Neolithic period (end of 7^th-6^th millennium BC), as material for tools or for beads, nephrite (with the earliest known Balkan nephrite culture), jadeite-omphacite and quartz (different varieties) were introduced to make pendants and idols. Large quantities of copper and gold artifacts are known since the Chalcolithic period (5^th millennium BC) (unique for the region; the largest in number of gold artifacts is the Varna I Chalcolithic necropolis in Bulgaria). The gemmological materials in the Balkans are known for malachite, antigorite serpentinite, turquoise, rock crystal, carnelian, jasper, jet and obsidian. In the Varna I necropolis (mid 5^th millennium BC) are recorded the first known complex faceted carnelian beads with 32 facets, as well as some of the most important gemmological techniques and procedures such as faceting, tumbling, annealing, miniaturization and standardization. As pigments for pottery, cinnabar, graphite and gold were used in different prehistoric sites. The earliest salt production in the Balkans is known from sites in Romania and Bulgaria, and because of its trade, salt is positively linked to a population rich with prestigious goods. The introduced possible Chalcolithic weight unit "van" (2 carats) is supposed to be the earliest known in prehistoric times.