Are these pendants valuable?
Without a doubt, they are precious.
Even to put it rather bluntly, Kael had always found it odd that such pendants, capable of producing most alchemy equipment and magical devices, exhibited the profound foundation of a great nation, which had invested immense amounts of time to build an entire alchemy industry chain from scratch.
And as for the gnomes...
It wasn't that the gnomes lacked the ability, but rather these profit-driven beings had not settled in the Orean Independent Kingdom and gradually become the rulers of the halflings before they had wandered between the major nations like a pack of stray dogs.
They had no nation of their own, just bands that would flock together whenever they saw a place with potential profits, pouncing like jackals onto the location of gold and treasures.