The Messenger of Allah ﷺ had a ring made, of gold or of silver, and he placed its stone facing the inside of his palm. He had inscribed on it, "Muhammad, Messenger of Allah." The people then had rings made just like it. When he saw that they had taken to wearing such rings, he threw his away and said, "I will never wear it again." Then he had a ring of silver made, and the people took to wearing rings of silver.Ibn Umar said, "After the Prophet ﷺ, the ring was worn by Abu Bakr, then Umar, then Uthman, until it fell from Uthman into the well of Aris."
أن رسول الله ﷺ اتخذ خاتما من ذهب- أو من فضة- وجعل فصه مما يلى كفه، ونقش فيه محمد رسول الله، فاتخذ الناس مثله فلما رآهم قد اتخذوها رمى به، وقال: لا ألبسه أبدا ثم اتخذ خاتما من فضة فاتخذ الناس خواتيم الفضة. قال ابن عمر: فلبس الخاتم بعد النبي ﷺ أبو بكر ثم عمر ثم عثمان حتى وقع من عثمان في بئر أريس.
Bukhari related it in the Book of Clothing (5866), and this is his wording, and Muslim related it in the Book of Clothing (54:2091), both of them through the route of Ubaydullah, from Nafi, from Ibn Umar, who said, then he related it.Muslim also related it (55:2091) through the route of Ayub bin Musa, from Nafi, from Ibn Umar, who said, "The Prophet ﷺ took for himself a ring of gold, then he discarded it, then he took for himself a ring of silver, and had engraved on it 'Muhammad, Messenger of Allah,' and he said, 'Let no one engrave the same engraving as this ring of mine.'" When he wore it, he would place its stone facing the inside of his palm, and it was this ring that fell from Muaiqib into the well of Ariis.Ariis was a well that was near the masjid of Quba, and it now lies within its grounds.Muaiqib accepted Islam early on, took part in the Battle of Badr, and migrated to Abyssinia. He was in charge of the Prophet's ring, ﷺ and Abu Bakr, Umar, and Uthman employed him over the treasury.