I have found many of these brass rings on a local beach that also has lots of military copper and brass items. I also finally found what seems to be the item to which the rings attach. The shaft is ferrous (steel?) and the most complete one also has a brass nipple on the opposite end along with 54H stamped into the side of it. There may be other numbers as I haven't cleaned off all the encrustation yet. I'm a little leery of tapping it with a hammer until I know more about it! When I first started finding them, I thought they were just cheap copper/brass finger rings, but, when I saw that the inside of the rings have splines, that changed my mind.