From the early seventeenth to the end of the nineteenth century, testators often left money in their wills to have rings with commemorative inscriptions made and distributed to their friends and families. Simple bands enamelled with the name and life dates of the deceased were frequently made, sometimes set with a gemstone or a bezel set with a rock crystal covering a symbol such as a coffin or initials in gold wire. In the later 18th century, rings followed neo-classical designs, their oval bezels often decorated with the same designs as funerary monuments such as urns, broken pillars and mourning figures. Hair from the deceased was incorporated into the designs or set in a compartment at the back of the ring to give each jewel a uniquely personal element. Black or white enamel were favoured though white enamel was often, though not universally used to commemorate children and unmarried adults. By the end of the 19th century, memorial ring designs were becoming more standardised. The hoops were often inscribed with phrases such as 'In memory' whilst a commemorative inscription could be added to the inside of the hoop. The custom of giving rings as memorials gradually declined in the early 20th century, although the Goldsmiths Journal suggests that some were still being sold in the 1930s.

This unusual ring commemorates two people - the Reverend James Hancox, who died in 1769 and his wife Martha (born Penn) who died in 1753. James Hancox was born in Kidderminster on October 17 1703, the son of John and Hannah. He moved to Dudley (Worcestershire) to become minister at the Old Meeting House, ministering to non-conformist and dissident Christians. He was minister from 1733 to his death in 1769. He married Martha Penn, the daughter of Uriel Penn, on 24 April 1728 and they had 13 children before Martha's death in 1753 at the age of 45. Their daughter Jane (born 1741) married the Presbyterian Reverend William Wells in 1771 and moved with him to Brattleboro, Vermont in 1793. Wells was a strong proponent of smallpox inoculation and took an active interest in the affairs of the American Colonies.

The bezel of the ring is set with an ivory plaque painted with a monogram and the text 'Sacred to Friendship', surrounded by small pearls - often associated with purity and mourning. The monogram does not seem to match either James or Martha's names - it may be that of the friend for whom the ring was made. A later inscription on the inside of the hoop reads 'From a great, great grand-daughter to her kind nurse Mary Little', suggesting that the ring had been kept within the family until it was passed to Mary Little.