Nafi' narrated from Sayyiduna Ibn Umar (may Allah be pleased with them both) that a gold ring was brought to the Prophet (peace and blessings be upon him). He (peace and blessings be upon him) put it on his right hand and turned its stone towards his palm, and the people then made gold rings for themselves. When he (peace and blessings be upon him) saw this, he took it off and said: "I will never wear it." Then he (peace and blessings be upon him) had a silver ring made.
Hadith Referenceالسنن الكبرى للبيهقي / كتاب الزكاة / 7562