Would the original owner wear a school ring that was lost years ago. I say not likely. They will be glad to know where it was found and see it again but they may not wear it because it's too small and they are now wearing fancier gold rings. About 25 years ago I returned a huge gold ring (West Point Military acadamy ) that was lost for 15 years, it was in an elementary school yard. The man's name was engraved, found the owner in the local phone book. He said it didn't fit him any more and so he gave it to his young son to wear on his boy scout or cub scout neckerchief, it fell off. He asked if I would take a reward, I said no. It probably ended up in his wife's jewelry box again. Since then, I don't make any effort to locate the owner of school rings. I know some on this forum won't agree with me, but what can I say, after that experience that's my view on school rings.