It was a paddle trick that I saw but never got because they were too expensive and I was 8. It was three rosewood sticks with gems in them. You never used three at the same time though, you switched one out. I think the closer was a rod that had all red gems down the rod. Amyone remember this and know where I could get a set. I think the story was based on suitcases of diamonds. Not to be confused with the jumping gems.

Try this...
http://www.richhillsillusionshop.com/jumpinggems.htm

Whoops! Must have missed the tail end of your post about NOT being confused with Jumping Gems. My apologies. Still, what you're describing does sound an awful lot like JG.