This is a fine example of a 19th century Mourning Ring. A now unusual and rarely seen piece of jewellery which back in the 17th, 18th and 19th century were much more commonly found.
https://www.antiquejewelleryboutique.com/antiqueringsover500/victorian-mourning-ring-with-pearls-amp-diamonds
A mourning ring would be worn in memory of a loved one that had passed and would often have their name or a motto displayed. If it could be afforded they would usually bare a black stone of Jet, otherwise the cheaper options of enamel or vulcanite could be used. If the loss was of a child then it was common to use white enamel instead for clarity.
https://www.antiquejewelleryboutique.com/antiqueringsover500/victorian-mourning-ring-with-pearls-amp-diamonds
The use of mourning rings dates back as far as the 14th century but it was not until the 17th century a clear name for the ring arrived. In the 18th century jewellers were even advertising mourning rings with a clear style having one small single stone and the details of the decedent recorded in enamel on the hoop.
https://www.antiquejewelleryboutique.com/antiqueringsover500/victorian-mourning-ring-with-pearls-amp-diamonds
In the latter 19th century the style shifted to a mass production of mourning rings which now had a photograph of the decedent on display rather than a stone. Towards the end of the 19th century the use of mourning rings largely ceased and only had a short stint of popularity again in the United States over the 1930’s and 1940’s.
https://www.antiquejewelleryboutique.com/antiqueringsover500/victorian-mourning-ring-with-pearls-amp-diamonds