The Messenger of Allah ﷺ had a ring of gold made, placing its stone on the inner side of his palm, and engraved on it "Muhammad, Messenger of Allah." The people then began making rings of gold for themselves. When he saw that they had taken to wearing them, he threw his ring away and said, "I will never wear it again." Then he had a silver ring made, engraved with "Muhammad, Messenger of Allah."After him, Abu Bakr wore the ring, then Umar wore it after Abu Bakr, then Uthman wore it after him, until it fell into the well of Aris.
حدثنا نصير بن الفرج حدثنا أبو أسامة عن عبيد الله عن نافع
اتخذ رسول الله ﷺ خاتما من ذهب وجعل فصه مما يلي بطن كفه ونقش فيه محمد رسول الله فاتخذ الناس خواتم الذهب فلما رآهم قد اتخذوها رمى به وقال لا ألبسه أبدا ثم اتخذ خاتما من فضة نقش فيه محمد رسول الله ثم لبس الخاتم بعده أبو بكر ثم لبسه بعد أبي بكر عمر ثم لبسه بعده عثمان حتى وقع في بئر أريس
Bukhari narrated it in the Book of Dress, Chapter on the Silver Ring, hadith 5866, from the hadith of Abu Usama, and Muslim narrated it in the Book of Dress, Chapter on the Prophet ﷺ Wearing a Silver Ring, etc., hadith 2091, from the hadith of Ubaydullah bin Umar, with the same wording.