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When used as the Irish engagement/wedding band, it is as such:

Engaged - crown points toward fingernail
Married - ring is turned so crown points at wrist - this is because it now
looks like the hands are giving the heart to someone

Most people in America simply wear them to show that they're Irish, or they
like the story of the ring, or their lover bought it for them. The ring
should, traditionally, be a gift and not bought for oneself.  In the American
tradition, the rules vary, but most people have the crown toward the
fingernail if they're single and pointing toward the wrist if they're with
someone.

- Backtalk version 1.3.30 - Copyright 1996-2006, Jan Wolter and Steve Weiss