I've always done piercing designs like what you describe with drills, needle files, and a jewelers saw. You can drill a starting hole where you want, thread the saw blade through it, and mount it into the saw frame. You'll need to have a good holding fixture to keep it steady for sawing.
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I'm definitely not saying buy it from amazon, was just the first link that popped. But this a great book for beginners who are self teaching jewelry and metalworking techniques.
https://www.amazon.com/Complete-Metalsmith-Illustrated-Handbook/dp/0871922401
Good luck. PM me a photo when you're done with it!
start with the bible and then the rest is youtube. Prob want to learn gypsy settings for stones. Stamps you can get from harbor freight or Rio grande. Rio is your one stop shop really.
This is a good reference book for metal working for jewelry.
http://www.amazon.com/The-Complete-Metalsmith-Illustrated-Handbook/dp/0871922401
This book is EXCELLENT.
https://www.amazon.ca/Complete-Metalsmith-Illustrated-Handbook/dp/0871922401/ref=nodl_
a kit like this would get you started with the main items you need. You will also need brass/copper/sterling sheet metal and/or wire and a metal ring mandrel to make the forms. You may decide to invest in an acetylene torch, if you do, double check with your states/home insurance rules about having that type of torch in your home. In my state, it voids a home insurance policy if a fire starts in a residential home due to a torch.
Once you move into bezel or prong setting, you may buy bezel wire or make it yourself, same goes for the prongs and prong settings. You will need jewelers files and a flex shat (or small hand-held rotary drill) to help with the polishing and various grits of sandpaper/polishing compounds to get the finish you desire.
This book is a great resource.
This book has a couple of pages on most every technique. There is a double sized version if you don't mind spending the extra money:
and I just found this book by the same author that I will be picking up myself:
I'm surprised they took you to straight to repair and surpassed fabrication work. But congrats nonetheless!
First, know what type of torch you're using. Propane, Acetylene or natural gas. Each of them behave differently, get to different temperatures, and have different safety regulations. Check your regulators before touching the torch and always have a fire extinguisher handy.
Second, you have to notice the difference between reducing, oxidizing and neutral flames You want to try to use a neutral flame most of the time.
Third, remember that size of flame is important. Most of the time, you can get an area just as hot with a smaller flame, it will just be more concentrated in a certain area. Thinner, more intricate pieces need smaller flames.
Fourth, remember to use a heat shield on anything you heat and flux on anything you solder. Unless you want the pink of firescale on purpose, don't forget them. Practice applying your flux and heating it so that it doesn't burn off.
Fifth, remember that solder travels in the direction of heat, and likes to travel on cleaner surfaces. If one part of your piece is colder than the other, the solder is going to want to travel away from that, with some effect of gravity, and closer to the flame of your torch. Try to heat your piece evenly unless there's an area that heat can't be applied.
Sixth, never EVER get heat near stones other than diamond.
Seventh, make sure your solder joints are as flush as you can make them and your pieces don't move. Use a clean sawblade, a file, or 220 sandpaper to make sure everything lines up as best as possible. A cleaner, perfectly made joint will be easier and have nicer result. Line up everything with locking tweezers or a third hand so that they don't move around.
Eighth, remember your hardnesses of solder. Hard is hot, easy is cooler. Use the hardest solder you're comfortable with so the joint is as strong as possible, while still trying to be repairable in the future.
Last, but most importantly, invest in a guide. The Complete Metalsmith is a great resource for any jeweler-in-training.
Tim McCreight has arguably the best metalsmith resources for beginners (and other levels). His book, "The Complete Metalsmith: An Illustrated Handbook" goes for roughly $8.00 on Amazon and is widely used.
Here is a corresponding 9 part series free on youtube where Tim McCreight demonstrates some basics to metalworking.
https://www.youtube.com/watch?v=hBaMqaUauEI&list=PLvpVkgeWevxVx5_YtbptMaMVpWDqwcev2
The video's graphics are a bit dated but the techniques are not. If you want to learn the basics this is an excellent place to start.
For other resources you could poke around on riogrande.com and watch some of the tutorials there.
As others have posted, I too am a big fan of Tim McCreight if you want a how-to book. He definitely has the DIY ethos.
I just watched this video about very low temp soldering - with a lighter! Can't personally vouch for it, but seems do-able for a newbie?
In case you want more "alternative" diamonds, here are two choices: rough diamonds and Herkimer Diamonds Okay, these are really quartz, but "diamond" is in the name! And they come naturally "cut" in this shape which is kinda cool.
Lastly, I want to throw in that I'm a big fan of putting steel in a wedding ring. For a ring that you wear everyday, your body's natural oils will keep it from rusting, but take it off and...busted! Frugal and romantic! Win win!