Had one of those when I was a kid. I almost think there was a secrete code inside the ring so you could send messages. Very cool find. Wish I still had mine. The more I think about it, I believe it was on some cowboy show I watched, and you had to send in for it so you could be part of the club. Don't remember how much it cost.
very cool..same ring it seems issued 1951 lone ranger(although less engraving)and 1952 cheerios premium which is exact match.came with lone ranger film strip inside.
That is one nice find. I didn't think it was "I'm back in the saddle again" by Gene Autry.
Details, don't forget the details-----Where did ya find it? Park, house, woods?
Marvin