The Dredge Signet Ring use is unclear when you get it from the Castaway, as the description suggests it offers some sort of luck, but it's not clear what that means or how true it is. With the Signet Ring's description muddling things somewhat, we'll explain what the Dredge Signet Ring is for and how you should use it in game below, as well as how you can find it if you haven't got it already.
What is the Signet Ring in Dredge for?
The Dredge Signet Ring, as far as I can tell, is purely used as an item to be sold to a Trader, any of which will buy it for $90. Admittedly I'm not 100% certain about that at time of writing, but having dragged it around for a significant amount of time, I didn't notice any meaningful gameplay change, so if it was having an effect, it's clearly not much of one. It also didn't appear to play any role in dialogue or Pursuits, and the game's eagerness to lump it in with "Trinkets" to be mass sold implies that it really does have no purpose beyond the financial.
More notably, the Signet Ring states in its description that "it's sure to bring good luck to any captain that holds it". With no clear function beyond being sold, the best thing I can guess is that this description is intended to be a bleak joke, as you obtain it from a sailor who was knocked overboard and abandoned by his crew, turning him into a castaway. It specifically has not bought him good luck, and is therefore only good to be sold.
Still, if you don't want to sell it, $90 is not a huge amount of money, especially later in the game. Put it in storage and just spend a day catching fish; you'll make up the difference and maybe more.
How to get the Signet Ring in Dredge
The Signet Ring in Dredge is obtained by saving the Castaway, who is found at one of the unnamed islands between The Marrows and Devil's Spine, specifically at coordinates L-10. You'll see logs laid out to spell "SOS" on the beach, approach and interact when prompted to meet the Castaway himself.
At that point you need to bring him back to Little Marrow, the settlement opposite the starting town of Greater Marrow. Keep in mind that not only does the Castaway take up space in your hold, if your ship is damaged along the way and the hold compromised, you risk losing the Castaway, which cannot be undone - he dies and there's no way to get him back, nor the Signet Ring. Still, if you can get him back to Little Marrow, he'll give you the Signet Ring as a reward.
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