What is 965 inside the ring?

"965 inside the ring" could refer to a specific designation or code, such as a model number, serial number, or a hallmark used in jewelry to indicate quality or origin. In some contexts, it may relate to a product or item that is encircled or contained within a ring-shaped object. Without additional context, it's challenging to provide a precise interpretation. If you have a specific context in mind, please share it for a more accurate answer.