Abdullah bin 'Abbas reported that Allah's Messenger (ﷺ) saw a person wearing a gold signet ring in his hand. He (the Holy Prophet) pulled it off and threw it away, saying: One of you is wishing live coal from Hell. and putting it on his hand. It was said to the person after Allah's Messenger (ﷺ) had left: Take your signet ring (of gold) and derive benefit out of it. Whereupon he said: No, by Allah, I would never take it when Allah's Messenger (ﷺ) has thrown it away.
Explanation & Benefits
Shaykh Maulana Abdul Aziz Alvi
Hadith Commentary: Benefits and Issues:
From this hadith, the spirit of obedience and compliance of the noble Companions (radi Allahu anhum) is established. Although the purpose of the Prophet (sallallahu alayhi wa sallam) was to prevent wearing it through emphatic expression, not to prohibit benefiting from it, yet because it was something cast aside by the Messenger of Allah (sallallahu alayhi wa sallam), he did not even consider it permissible to benefit from it. And this very attitude is the secret of their success and triumph, from which we are deprived today.
Source: Tuhfat al-Muslim: Commentary on Sahih Muslim, Page: 5472