If you had a set of silverware, or pre-1965 silver coins, you'd be looking at some real money, but rings and such wouldn't have enough weight to amount to much. Rings, necklaces and bracelets have far more value as wearable pieces of jewerlry than their metal content.
I agree with the previous poster that, if anything, people should be buying silver rather than selling it. Gold too, even though it has run pretty high before getting most people's attention. We were buying silver when it was $4.50/oz a few years ago and now it's $20+. We've done a LOT better than the stock market, and certainly much better than parking money in CDs at the bank for 2 or 3% interest. With the dollar dropping like a stone and some banks and financial companies like Bear Stearns in distress and being bailed out by the government, you can be sure that gold and silver are due to go a lot higher in price in the next few years.