The Pierce oscillator is a type of electronic oscillator particularly well-suited for use in piezoelectric crystal oscillator circuits. Named for its inventor, George W. Pierce (1872–1956), the Pierce oscillator is a derivative of the Colpitts oscillator. Virtually all digital IC clock oscillators are of Pierce type, as the circuit can be implemented using a minimum of components: a single digital inverter, one resistor, two capacitors, and the quartz crystal, which acts as a highly selective filter element. The low manufacturing cost of this circuit and the outstanding frequency stability of the quartz crystal give it an advantage over other designs in many consumer electronics applications.