What to do with gifted solitaire diamond ring?

Hi ladies. I received a very generous and beautiful gift this Christmas of a solitaire diamond ring from my grandmother. I don't have the specs for the diamond, but here's a general description:

- just under or near 0.5 ct
- My grandmother tells me that it is a hearts and arrows cut, I have no point of comparison for this and through a 10x loupe I can't make out any arrows (are you supposed to be able to see it?)
- It looks white to me, but I don't know the colour grade.
- It is very sparkly, lots of fire, and does look brilliant on the finger
- 6-prong setting (it's set in sterling silver, which is a pity because it's such a beautiful stone it deserves something that won't tarnish).

I will post a photo later. I don't have the ring on me at the moment.

Problem is that I don't know if I can pull off wearing this ring. It looks like an engagement ring. I have a boyfriend of many years, and I feel that me wearing this ring will only prompted questions from friends and coworkers that I don't want to deal with.

I am very thankful and it's a beautiful gift. I just need some help deciding what to do with it so I can enjoy it and show off what a loving, generous grandma I have :biggrin:. My thoughts about it are:
1. Keep it in the box until I am engaged and then use as my engagement ring (either reset or as is)
2. Reset as a solitaire necklace so I can enjoy it every day
3. Wear it out! Who cares if it looks like an engagement ring

What would you advise?
 
Thanks for the input. I'll go to a couple of jewelers and get a quote for the necklace setting.

You could also wear it on your right hand and when people ask you tell them it was your grandmothers. That makes it very special.

I was thinking about that. I tend to wear my rings on my left hand because it's my non-dominant hand. I'm not used to wearing rings or bracelets on my right hand. Also, the ring might get more of a beating because I do more things with my right hand.

I would go for the necklace too.
Is it common practice to set a diamond in silver?

I didn't think it was common practice. But not unheard of. It's surprising coming from my grandmother though because the last ring she gifted me was amethyst set in platinum. A case in which the setting far exceeds the cost of the stone...
 
Reset it into either a necklace you can use now, or some kind of ring you can wear now.

I'm not sure what kind of ring setting is appropriate for a .5 ct diamond that wouldn't look engagement-y. I love rings because I can see them on my hand and enjoy looking at them (as opposed to not being able to see a necklace I'm wearing).

add a halo to it and wear it as a right hand ring.

Ok, just saw this post after I replied to Ame.
It's not too engagement-y if it has a halo?

Well, I'll add that to my list when I go to the jewelers. I'm ok with paying for a reset, but want to keep the cost of it down (as in not over $500). I imaging the cost of a halo set might be getting up there.
 
I am so glad you posted this. I was just given my grandmothers (who passed away)wedding and engagement ring by my dad on my birthday last month and I was torn on what to do as well. It is set in yellow gold and is lovely, about .5 carat diamond as well. I am married and already have a beautiful 1 carat ring from my husband so I dont want to replace it, but I was torn on what to do with my grandmothers ring. I feel guilty turning it into a necklace, but I know that is probably the only way I will really get to enjoy wearing it.
 
I am so glad you posted this. I was just given my grandmothers (who passed away)wedding and engagement ring by my dad on my birthday last month and I was torn on what to do as well. It is set in yellow gold and is lovely, about .5 carat diamond as well. I am married and already have a beautiful 1 carat ring from my husband so I dont want to replace it, but I was torn on what to do with my grandmothers ring. I feel guilty turning it into a necklace, but I know that is probably the only way I will really get to enjoy wearing it.

Glad there's somewhere for you to consider your options too.
I guess since I don't have an engagement ring, I can always save it for that option. Decisions decisions...

But, like you, I want to enjoy wearing it rather than have it sit in a box. And who knows when I'll be engaged!?
 
How about a gemstone halo instead of diamonds? Won't look engagmenty at all. Or a pendant would be lovely. I just reset a half carat diamond into a halo pendant and I love it. So many beautiful options!