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A style of setting a gemstone in a finger ring in which the stone is held above the gridle by a series of encircling, vertically projecting prongs (claws) cut into (or soldered on the outside of) the collet (circular, square, etc.) and that secure the stone by holding the facets on the crown.
In such settings the stone rests on a bearing (a thin metal band) that is soldered inside the collet. This type of setting was developed in the 19th century and is used mainly for transparent faceted stones, as it permits much light to enter the exposed stone. As the culet of the stone in sich a setting is exposed, the setting precludes the painting or foiling of the culet to improve the stone's appearance. The collet is now sometimes made from an open gallery supplied by refiners.
From: An Illustrated Dictionary of Jewelry, autor: Harold Newman, publishers: Thames and Hudson