Mike
I also checked mine and a magnet does not react either.
I am no expert, but would like to make a comment if I may. I looked at the engraving and a pic of the so called "inner band" pic on WAF and the engraving depth on an original ring is deeper than the thickness of the "inner band".
That leads me to this question, What would the purpose of the "inner band" be then? Since the engraving goes through the "inner band" it certainly would not be to make engraving easier.
I do not subscribe to the "inner band" theory. Ron