So it turns out that installing the rmagic gem requires you to install the Microsoft True Type fonts. This seems like a very odd requirement to me. Maybe there is a flag that says install the gem without the fonts, but I could not find it. Fedora Core 6 does not come with an rpm to install the corefonts. You need to visit corefonts.sourceforge.net. Daniel Resare has put together all of the resources that you need to build your own rpm. You may want to visit Mauriat Miranda’s site for lots of good fc6 information including corefont stuff.
The rpm I built installed the fonts in the wrong place. I had to move them from the /usr/share/fonts/msttcorefonts directory to the /usr/share/fonts/default/TrueType directory. After this, ‘gem install rmagick’ worked like a charm.