A wedding ring, as is an engagement ring, maybe as cost-effective as you want it to be. The value behind it, however, is priceless, since it will become the most praised jewelry piece in your collection. A classic solid gold wedding band, for example, ranges from $600 to $700 for a woman, based on her size and the width and weight of the band. With the addition of diamond accents or more complex designs, that price most probably will go up to your designated budget.