Pyrite Beads - Golden Pyrite has long been mistaken for gold. It's heavy (about 5 times as heavy as water), it's golden, and is often associated with gold deposits. Also called "iron pyrite" and "fools gold". The Aztec's made pyrite mirrors used in divination. The term 'pyrite' is from the Greek word 'pyro' meaning 'fire' as it produces sparks when knocked. Pyrite Beads add drama to any jewelry design.