One of the ways that marriages were brokered in the middle ages (especially political marriages among nobles) was for a messenger to take a portrait of the potential suitor to the other party (who was sometimes in another country). I wonder if some of the ring portraits were that kind of message (it's also possible that some of them are commemorative portraits, like a betrothal or wedding photo in modern times).
If it were a professional portrait (like the portrait of a jeweler), usually they also included the jeweler's tools, but I don't know if they always did this.
To clarify what I posted in another thread: if the ring stands for riches, then there are some parallels here for the triumph of heaven over the fallen whore of Babylon:
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Hi Koen,
I guess that Babylon's circle was meant to be a mirror standing for vanity/lust (left, You are not allowed to view links.
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Hi Marco, I thought so too (I generally lean towards mirrors for the overly large rings as well), but then I saw that the inside of the circle was painted gold, while mirrors are usually blank or blue. Usually the object held by the whore of Babylon refers to the Bible verse "decked with gold and precious stones and pearls, having a golden cup in her hand full of abominations and filthiness of her fornication".
I guess there is a connection between the "gold and precious stones" and the mirror, in that she cares more about appearances and earthly goods than spiritual salvation (vanitas).