Hi! There are a large number of factors involved with your question. What kind of metal is the ring setting made of? Is the ruby natural or synthetic? How large is the ruby? Is the ruby transparent, translucent or opaque? How do any inclusions affect the face-up of the stone? where was the stone mined? How is the stone cut? These are some necessary questions to discovering the ring's true value. A licensed gemologist can answer many of these questions by testing the metal and studying the stone itself. For example, how the stone is cut can often give you a good idea of when it was mined. The design of the ring can narrow it even further. The hue and colour of the stone can tell where it was or wasn't mined. Depending on where you live, getting an official appraisal from a gemologist can be fairly expensive, but many jewelers (chain stores not recommended.) will be happy to look at it for you and give you at least a ballpark figure. I would suggest calling first though. If they are busy the won't have the time and you can also be sure they are willing. Best of luck!
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The worth of a ruby ring is determined by a number of factors. The most common and important are the cut, carat weight, color and clarity or the ruby. The metal that is used also factors into the cost such as platinum, yellow gold or white gold.