I'm not an expert but my guess is if it is marked 14K that would mean it is white gold, which is silver in color. I would take the ring to a diamond appraiser to find out if that center stone is diamond, and if it should be insured. You can take it to any diamond dealer and they can do this for a small fee of about $20 - $50 as I recall. Sometimes old mine-cut diamonds in the original settings have more collectable value than melt-down value, since most of them were moved over time into modern settings and cut into modern shapes. I don't know a lot about them, and if it is a diamond, it would need to be examined under a microscope for a real appraisal and they will tell you the three C's- It's Color, Cut and Clarity rating. I would also research your family to look for Sabrina, if it was handed down to you. Finally, I would enjoy it and wear it on special occasions! It's beautiful!