Microsoft rewards gems

Not exactly. If you keep the gems until the program switches to the Microsoft Rewards program, each gem will be transferred over as 1 Microsoft Rewards point (So you would get 1880 Microsoft Rewards points). Gems and Microsoft Rewards points don't actually
have a monetary value so it wouldn't be the same as $18.80.

From the Microsoft Rewards Migration FAQ: "any unredeemed MyVIP Gems will be converted to Microsoft Rewards points and can be used to redeem rewards from the Microsoft Rewards catalog once your membership is transitioned. One MyVIP Gem will
convert to one Microsoft Rewards point".

From the Microsoft Rewards Migration FAQ: "any unredeemed MyVIP Gems will be converted to Microsoft Rewards points and can be used to redeem rewards from the Microsoft Rewards catalog once your membership is transitioned.
One MyVIP Gem will convert to one Microsoft Rewards point".

Yes. If you still have gems left when the transition takes place, the gems will be added to your Microsoft rewards account as Microsoft rewards points.

Hello TOXIC2theHEAD,

From the transition FAQ:

What will happen to my Xbox Live Rewards MyVIP Gems, MyVIP Perks, and MyVIP Vault?

You’ll have until May 31, 2018 to earn MyVIP Gems and unlock any new MyVIP Perks. You’ll then have until June 15, 2018 to claim any open MyVIP Perks and to redeem any unused MyVIP Gems in your Xbox Live Rewards account for prizes from the MyVIP Vault. After
this date any unredeemed MyVIP Gems will be converted to Microsoft Rewards points and can be used to redeem rewards from the Microsoft Rewards catalog once your membership is transitioned. One MyVIP Gem will convert to one Microsoft Rewards point.

Your 556 Gems will be converted to Microsoft Rewards Points when you are fully transitioned into Microsoft Rewards.