We have been Mustachians for years without having that name. My husband and I are just frugal. When we were getting married, we purchased a simple platinum band for hubby and a platinum band with setting for me. The setting was to hold a diamond that mother in law gave to me that was from her first marriage that lasted a month. I never really wanted a diamond setting, as they stick up too much and catch on things, but I got one to hold the free diamond and it was lovely.
Fast forward to today. Hubby's job is up in the air and we have 2 kids. Priorities are different. We have enough money saved for 3 years with no income, and ample savings for far future retirement. However, I suggested selling the rings and hubby agreed. I sold the platinum rings to a refinery and got $435, and the diamond was appraised at $5,100, so we should get between $2,500 to $3,000 for it.
Hubby and I got new rings at Walmart for $40 for both! His was on sale from $38 to $15 and is a strong tungsten band that he really likes. My white gold band was originally $125 but I got it on clearance for $25!
It's very freeing to not have to worry about having valuable rings, and to have that money in the bank in case we need it. If we are ever robbed, we could care less about what happens to these rings. We are so happy about our decision! Our regular friends might not understand, but I thought that you Mustachians would appreciate the story.