This is the 11509th most frequent Russian word.
дорогое
"Дорогое" means "dear" or "precious" in English.
Here, "дорогое" is used as an adjective meaning 'precious' and modifies the neuter noun "украшение".
Это моё дорогое украшение.
This is my precious jewelry.
In this sentence, "дорогое" is used as an adjective meaning 'expensive' describing the neuter noun "пальто".
Он купил дорогое пальто.
He bought an expensive coat.
Here, "дорогое" is used in a poetic sense meaning 'dear,' and is addressing someone or something regarded as precious or cherished.