I can hardly imagine that such kind of a ring has been produced. When you examine the pics you can see that the emblem is overlapping the ring a lot (even it would be relocated "uppwards"). You would get stuck in nearly each clothing which comes near.
So the way of fixation is mostly insignificant.
Bakelit has been a kind of valuable material at these times so such a sloppy or even stupid way of fixation would not be characteristic.
Just my personal thoughts.
Regards,

IFRing.JPG (73.17 KB, 206 downloads)

wotan, gd.c-b#105

"Never look for sqare eggs" as a late owner of an original FHH-dagger used to say.