Need help identifying a vintage ring marking

Hi everyone, so I have an old ring that was supposedly my great grandmothers, according to my grandmother, and I have been trying to find out what the only marking on it means. I've searched everywhere but can't find anything about it, I don't know if it is real or fake, I just want to figure out what it is since it has been bugging me. Any help would be much appreciated. Thanks in advance! I don't know if that's the right way around or if it is supposed to be flipped over, but I'm assuming that's the correct orientation.

 

Welcome, bosh. Could we see the ring please?

 

It probably says Italy, but without the rest of the ring it's hard to say.