I don't remember a rocket ring but I used to rush home from school, grab cookies and milk, and glue myself to the radio. There was the Lone Ranger,
Cisco Kid, Captain Marvel, Superman, The Shadow, Buck Rogers and others. I remember two sponsors, Shredded Ralston and Ovaltine, and probably
hot and cold breakfast cereal I don't remember. The radio program would have a story line where the hero used a secret code ring with all sorts of other
features that he would use to solve the crime. Then the pitch, for only 25 cents and a box top of what ever, and you could buy one of those rings. So
mom would scotch tape a silver quarter to a box top, and in due time I'd get my secret code ring. After every program they would end with a coded message,
which was always something like "Drink your Ovaltine," or some such disgusting rot. I remember three different rings. One was a decoder, magnifying
glass and a hollow ruby for secret messages. The other had a whistle, and a decoder, and another had an atom bomb on the top that you could look into
and see the atoms if I remember correctly. Don't remember much else on that one. Your find is probably from Buck Rogers, and it's missing the
intergalactic decoder off the top, but that's just a guess. Your find does bring back memories though.