Hello all. This is my first post and I hope it is helpful. My lovely wife (whose elvish is better than mine) has looked at the inscription (so helpfully uploaded by TheShinyOne) and believes it says "Forger of Rings" or "Forger of the Rings" (can't tell if the descender is long enough to be "of the" or just "of").
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I hope this helps and I hope everyone had a Happy New Year.