Iron Pyrite Crystal. The mineral pyrite, or iron pyrite also known as fools gold. Pyrite has long been valued as a strong protection stone that shields the wearer from negative energy as well as environmental pollutants. This stone helps promote physical well-being. Stimulating the second and third chakras, pyrite enhances strength of mind and willpower. Pyrite is perfect to help bring wealth and abundance into your life or space. You should place Pyrite in the left most corner of your home,. which is your prosperity space on the Feng Shui map. As you walk in your front door, point your hand to the left corner of your home. This is the ideal spot to place Pyrite. Paid £40