This simple gold ring is inscribed 'Itere felix'. This may be a misunderstanding of the phrase 'Utere felix', meaning 'Use happily' or 'use with luck'. This was one of the most common inscriptions found on Roman objects, seen on bottles, spoons, rings and brooches and also on military equipment. This ring was probably a gift or a good luck token but later versions of the inscription could be combined with Christian symbols such as the Chi-Rho or the cross.

In the early days of the Roman republic, the right to wear jewellery was strictly controlled. Citizens were permitted to wear iron rings whilst ambassadors alone could wear gold. These prohibitions were gradually eroded and by the early Imperial period, gold and gemstones were widely worn. Periodic attempts were made to reign in extravagance but the frequency with which these sumptuary laws were restated suggests that they were mostly ignored.

This ring forms part of a collection of 760 rings and engraved gems from the collection of Edmund Waterton (1830-87). Waterton was one of the foremost ring collectors of the nineteenth century and was the author of several articles on rings, a book on English devotion to the Virgin Mary and an unfinished catalogue of his collection (the manuscript is now the National Art Library). Waterton was noted for his extravagance and financial troubles caused him to place his collection in pawn with the London jeweller Robert Phillips. When he was unable to repay the loan, Phillips offered to sell the collection to the Museum and it was acquired in 1871. A small group of rings which Waterton had held back were acquired in 1899.