Me I am in camp #2 I love buying a unidentified and trying to find out what it is dont realy take much notice of the value
Over the last few years I've handled about 300 of these "Celtic ring money" and there are very few that I would say come close to being "perfectly round." The one I used to wear was pretty close, but actually it only fit on my finger one way, if I turned it 90 degrees, it would be too loose...which is how I ended up losing it. Some of the more highly sought after will have knots/nobs or some unusual difference from a basic round ring. I doubt they were actually meant to be worn on fingers as that doesn't seem like a practical way to carry your money (can somebody make change: two pinkies for a thumb?). I've handled sizes as small as 3/16" in diameter and as large as two inches in diameter. It is more likely they were kept on a string, like wampum.
We are probably talking about different things. On Ebay they sell what looks to be old bridle parts dug up in Eastern Europe as "Celtic ring money". I was just talking about those. They are too small to put on your finger and almost perfectly round. If it is shaped like a ring, I would say its mostly likely an ancient ring and not really money. I would not accept it as celtic ring money unless I had the archeological dig records of its find site. When 99+% of ancient looking rings are rings, I would not accept it as something different without definitive proof. Ancient rings, though, are very cool. I have quite a few of them, from Greek to Roman to Sassanid.
I am talking about the celtic ring money like this: View attachment 93549 or View attachment 93550 Blurry pictures, but you get the idea.