Messenger of Allah ﷺ had a gold ring made for himself, and he used to wear it with the stone towards the inner part of his hand. Consequently, the people had similar rings made for themselves. Afterwards the Prophet; sat on the pulpit and took it off, saying, "I used to wear this ring and keep its stone towards the palm of my hand." He then threw it away and said, "By Allah, I will never wear it." Therefore all the people threw away their rings as well.  

أَنَّ رَسُولَ اللَّهِ ﷺ اصْطَنَعَ خَاتَمًا مِنْ ذَهَبٍ وَكَانَ يَلْبَسُهُ فَيَجْعَلُ فَصَّهُ فِي بَاطِنِ كَفِّهِ فَصَنَعَ النَّاسُ خَوَاتِيمَ ثُمَّ إِنَّهُ جَلَسَ عَلَى الْمِنْبَرِ فَنَزَعَهُ فَقَالَ إِنِّي كُنْتُ أَلْبَسُ هَذَا الْخَاتِمَ وَأَجْعَلُ فَصَّهُ مِنْ دَاخِلٍ فَرَمَى بِهِ ثُمَّ قَالَ وَاللَّهِ لاَ أَلْبَسُهُ أَبَدًا فَنَبَذَ النَّاسُ خَوَاتِيمَهُمْ  

that he saw a silver ring on the hand of Messenger of Allah ﷺ for one day only. Then the people had silver rings made for themselves and wore it. On that, Messenger of Allah ﷺ threw away their rings as well. (For the details of this Hadith, see Fath-ul-Bari, Vol. 12, page 438).  

أَنَّهُ رَأَى فِي يَدِ رَسُولِ اللَّهِ ﷺ خَاتَمًا مِنْ وَرِقٍ يَوْمًا وَاحِدًا ثُمَّ إِنَّ النَّاسَ اصْطَنَعُوا الْخَوَاتِيمَ مِنْ وَرِقٍ وَلَبِسُوهَا فَطَرَحَ رَسُولُ اللَّهِ ﷺ خَاتَمَهُ فَطَرَحَ النَّاسُ خَوَاتِيمَهُمْ