well, strangely enough, I just got (this weekend) my grandmother's ring that had gone to my mom, then my sister, and now me. She never had an engagement ring, so my grandfather bought her one for their 50th anniv. It will go to my first granddaughter, if I have one. If not, then someone! I have my mom's wedding/engagement rings, too, that will be passed down. Mine, too.
just one?? That is hard....there are several jewelry pieces.
I took my mother's wedding ring, grandmother's ring (which she had made after my GF died and incorporated hers and his together), my engagement ring ....took all the diamonds and had them made into a new band for me. Very special. That is what I wear as my main ring now. That will go to my DD.
I also have a very special set of china that my uncle brought back to my mother from Japan during WWII...that also will go to my DD.
A toy chest, that was mine and my sisters. The cousins used to hide in it for hide and seek.
A baby afghan and pixie doll that my grandmother made for me.
A baby blanket that was mine.
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I still have the book case that my mom bought for her niece and nephew when they started school and then was passed to my sister and I.
I have a ton of Disney books so the case will probably never be passed on.
My sister still has our little rocking chair. She had the seat redone and keeps it in her bedroom. She won't be giving that up any time soon.
I have kind've done that already ... I passed my toybox down to my neice and nephew... It was filled with all my fisher price toys! They're all in excellent condition and only missing their people.