@killick We are using sterling silver and sheet metal, wire, etc., but we started with copper and brass to learn the techniques. Most of the materials can be bought "half hard" which is well, halfway between fully annealed and fully work hardened. But once you start braising/soldering or hammering, you end up taking the material back and forth between soft and hard as you work it.
The lapis stone sits on 18 gauge sterling silver sheet metal. The silver ribbon used for the setting is actually fine silver which is more malleable for working it around the stone to lock it in there (but, as you can see, I'm not to that part yet).
This class ends next week, but I'm in the process of scheduling a casting class asap, as I am really wanting to learn to work with molten metals, mold making, etc. But you need all the basic skills first.
What I'm struggling with right now is looking for a few small hand tools, as I would rather buy a small set of professional quality specialty pliers and cutters than a larger student kit of lower quality tools. It seems like there are either the dirt cheap Harbor Freight tools (or slightly more expensive rebranded tools of the same low quality) or the professional and perfectly precise European or American made tools that cost so much more. But for this work, if I'm going to spend actual money, I'm going to go slow and buy the nice stuff as I need it and can afford it. I'm going through all my tools (a job that has not actually been done since moving a year ago) to find what I already have that is suitable for some of this work.
Here's the set of pliers I am going to get and then make do with what I have or can locate at estate sales in the near future:
http://amzn.com/B005IZ16PK
I can only imagine they will be a joy to work with, as I'm sure a German made tool designed for fine metalsmithing work will probably function with the precision of a Porsche stick shift knob, but a bit more affordable. There! I've justified a purchase of $100 worth of pliers: they are cheaper than a Porsche! Ha!
The next ring or stone setting I make, I'll document it better, as you are right that it would be neat to see it go from sheet metal and wire to finished piece.