Obsidian is generally far from valuable, but it does take a good polish and can be made into jewelry, and some of the sheen varieties can command decent prices as lapidary material.
Obsidian is a type of black glass.
Use a diamond pickaxe
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No. It is an igneous rock, meaning it cooled from molten rock. Specifically, obsidian is volcanic.
Obsidian falls under the group of Extrusive Volcanic Rock of very fine texture. Obsidian is generally called Volcanic Glass.
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Valuable. You were correct.
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