From Discworld MUD Wiki
The weave indicates that the gold and mahogany ring is a ring of treasure, with one charge remaining. With the pattern of the weave mirroring the artifact, you realise that you will now always recognise a ring of treasure when you see one. You zap your thin stick at the gold and mahogany ring. The gold and mahogany ring is a level 50 magic ring. It has one charge remaining.
For some reason the 'ring of treasure' bit doesn't show when looking at it though.
fci casting The gold and red coral ring isn't an artifact. You zap your thin stick at the gold and red coral ring. There doesn't seem to be anything special about the gold and red coral ring.
You recognise the silver rat ring to be a piper's ring. This is a thick silver band, embossed with a circle of three rats biting on each other's tails. Each rat has two tiny red rubies for eyes. Six of its eyes glow a dull red. You zap your thin stick at the silver rat ring. The silver rat ring is a level 50 magic ring. It has six charges remaining.