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Navy Ring--Vintage --Size 9 1/2 -- Not Sterling

Navy Ring--Vintage --Size  9  1/2 -- Not Sterling
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$12.00 plus shipping

I bought this at an estate sale and I know nothing about it. I don't know if it is a reproduction or what. It is a smaller size. I wonder if it might be a Navy WAVE ring---?? Size is a good 9 1/2. (I do not think this ring can be resized.) It is not sterling. I think it is a heavy metal ring but your guess is as good as mine. It is interesting. It has the anchor on it. It has a "J" on one side and a "W" on the other side of the ring. ?? Initials are not highly visible.

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