On the night of the full moon, set up an altar with salt, incense with sulphur, oil lamp or candle, a cup or chalice of pure spring water, a soft white polishing cloth to clean the right thereafter, olive oil, and a red pouch or cloth, as well as whatever you usually set upon the altar.
Create sacred space by casting or visualizing a circle, calling the elements, and invoking deity--specifically the moon Goddess in her threefold aspect. Light the oil lamp or candle and the incense. In many Wiccan rituals, salt is mixed into the water to bless it. However, for this particular ritual, do not mix any salt into the water. Or have a separate cup of pure spring water that has no salt mixed into it.
Hold up the ring and state something similar to the following:
I purify and consecrate this ring of silver, set with moonstone, to be a ring of witchery for me. With the powers of the Triple Goddess--Aradia, Diana, and Hecate--Queen of all Witchery, as I will, so mote it be!Take the ring and touch it to representations of the four elements: salt (earth), incense (air), flame of an oil lamp or candle (fire), and spring water (water).
Annoint the ring with olive oil. Dry the ring thoroughly with the white cloth. Kiss the ring and slip it on your finger. Remove the ring from your hand and place it on the red pouch or bind it up in the red cloth.
Be sure to return to ordinary space by erasing the circle, bidding farewell to the elements and thanking deity.
You should set the ring in its pouch, where the moon will bathe the red pouch in light overnight.
This ring may be worn only during ritual, or more frequently whenever you feel it is appropriate. There's no reason not consecrate more than one Wiccan ring--one could be worn soley in moon circles, another could be worn whenever you feel a need to connect with lunar energy.
Myth's notes
The ancient Romans adored rings and wore them for both ornamental and religious
purposes. Some Italians have kept this custom even today.
This ritual is largely based on Scott Cunningham's advice to touch items to representations of the four elements to consecrate them. Moonstone is a whitish or yellowish, cloudy feldspar gemstone which, according to lore, holds an image of the moon. Although in my opinion, a silver ring set with a moonstone would be ideal, one could have a white gold ring set with another semi-precious stone, such as amethyst or bloodstone--or even a precious stone, such as saphire, in white gold. This same ritual could be adjusted to consecrate practically any item of magickal jewelry.
The correspondences of salt as earth (North), blue sulphured incense smoke as air (East), flame of an oil lamp or candle as fire (South), and a cup or chalice of spring water as water (West) are definitely Wiccan. Nevertheless, the ancient Romans often purified items with water, fire, and sulphur (suffitio). Salt was likewise sacred to the Romans and used in purifications, as was white wool.
It should be noted that sulfur has a stinky odor, which is fine if one is censing something outside in an open air Roman temple. However, it doesn't work quite as well indoors in your closed temple room.
I have used the Aradia, Diana, Hecate triad, which can be found in the Moon Candle Ritual. I felt this triad was an appropriate grouping of the Triple Moon Goddess. You could instead use another triad of Diana, Luna, and Proserpine, or use the Greek triad of Artemis, Selene, and Hecate.
There is another Wiccan method of charging an item specifically with lunar energy. See: Transformation Charging Spell.
If you are interested in viewing an ancient bronze pentagram ring, please see Greco-Roman Ring.