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Does having greater magic find or gold find affect the quality of the gems dropped? If I have a decent amount of magic find and a monster was going to drop a Chipped Ruby, is it possible for the magic find to update it to a Flawed? Or it is based solely on the difficulty level you are on and the static drop rates of gems?

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Maybe gold find affects it. Why do not enlarge a bit the scope of the question to avoid redoing another similar? –  Drake May 23 '12 at 16:46
    
@Drake You think maybe increasing gold find might increase your odds? Is that what you're saying? –  Emerica. May 23 '12 at 16:50
    
I don't know but I am interested in it. so instead of doing 2 separate questions one with magic find and one with gold find maybe you can enlarge the scope of your to include it. –  Drake May 23 '12 at 16:52
    
@Drake Changed the title a bit to add in your thoughts. –  Emerica. May 23 '12 at 16:56
    
possible duplicate of How/where can I farm gems? –  user9983 May 23 '12 at 16:56
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2 Answers

Gems are not magic items (their names are in white, not blue/gold/green), so increased chance to find magic items does not affect them.

In Diablo 2, increased MF did not affect gem drops, and I haven't heard anything about this changing in D3.

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No.

As you can see in What does increased magic find do? and the recap

Magic Find has always been one of the most popular item attributes in Diablo. Magic find helps increase the probability that a higher quality item will drop from monsters.

Conclusion

This need more tests, but you can follow the main idea. Magic find does not increase the drop chance for gems.

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The first source seems to give the opposite conclusion, and the second source has nothing to do with gems (and is most likely a case of RNG and the poster seeing what he wants to see based on a random idea). –  dpatchery May 23 '12 at 15:54
    
@dpatchery sorry if I didn't express myself as I wished. I'll edit –  Michel May 23 '12 at 16:02
    
The tests cited here make my pseudo-scientific gem survey look like the sort of thing that would pass peer review for a major journal. They're worse than anecdotal as evidence of anything. –  LessPop_MoreFizz May 23 '12 at 16:17
    
@LessPop_MoreFizz removing the unnecessary information then –  Michel May 23 '12 at 16:32
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