The furs of ermines are commercially valuable and in particular the white coat, known itself as ermine, which has been prized by the fur trade for centuries. In Europe, these white furs were a symbol of royalty; the ceremonial robes of members of the UK House of Lords are trimmed with ermine, though artificial fur is now used. The ermine was also considered a symbol of purity in Europe. In the Renaissance era, legend had it that an ermine would die before allowing its pure white coat to be besmirched. When it was being chased by hunters, it would supposedly turn around and give itself up to the hunters rather than risk soiling itself. Henry Peacham's Emblem 75, which depicts an ermine being pursued by a hunter and two hounds, is entitled "Cui candor morte redemptus" or "Purity bought with his own death." Peacham goes on to preach that men and women should follow the example of the ermine and keep their minds and consciences as pure as the legendary ermine keeps its fur. The ermine in the depiction is seen as spotted, a common mistake as garments would be made of many ermine skins with the many black tipped tails (Gregg).

In some Nordic countries the ermine is invoked as a symbol of curiosity and timely action. In some areas of Japan, because of its adorable appearance and somewhat elusive nature it is still considered a symbol of good luck.