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The decision of whether to re-use a wedding ring is ultimately up to you. These are simply guidelines that most people follow and what is normally viewed as proper etiquette.

a. Divorced male: If you are a single man, you will likely never wear the jewelry again. It is probably best to sell it. If you don’t already have it appraised, have it so at a jewelry store. Depending on the place, the appraisal will only cost about $30 to $50. Few jewelry stores will give you full price for the diamond. If you decide to wait, most jewelers will give you the full value of the diamond when you come to buy something new. This is the best way to get the highest value in return.
b. Divorced Female: Of course, you can sell your ring, as well. But many women have their stones set in something new. You will have to take the ring to an experienced jeweler to get a recommendation. Some types of cuts cannot easily be set into necklaces. And, some types cannot be cut down into earrings. You will have to see what works best for the stone you have. Many women choose to trade the ring in for something else, which is a good option as well.
c. Divorced with Children: If you have children from your marriage, you might want to save the rings for them. It is a very nice touch at a graduation or at some milestone in their lives to pass on something very meaningful.
d. Widowed with Children: Once you do not want your wedding ring any longer, it will mean a lot to the children if you pass it on. Deciding which child may be the biggest difficulty, and you may even decide to pass it on to the grandchildren. Depending on the ring, you could have it reset. Many times jewelers can take the bands from you and your spouse, melt them down together, and make a new setting with the diamond(s). This can be an exceptional gift.