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This is an Antique Victorian Sterling Silver Mysterious Code Fraternal Ring. This ring is very unusual. It has letters around a circle on the 14 Kt Gold (tested) filled top of the ring. The letters are h V1 konaeb. Thanks to a helpful etsier I have the following information on it. " It says "николаев", which translates as "Nikolaev", and is a city in the Ukraine. It's also a university, and a surname, and this particular spelling indicates that the owner was male (the feminine form is Nikolayeva/Nikolaeva). This is most likely a class-ring, probably forged between the 1870s-1890s".. These letters are around the Initials D and A. It is a size 10 and is in average vintage condition. This ring weighs 7.5 grams and tested positive for Sterling.