It means that the ring is electroplated with 14 karat gold.
Gold electroplate is gold that has been electrolytically deposited on a base metal. By Federal standards, in order to be called gold electroplate (or G.E./G.E.P./G.P.), the gold must be at least 7 mils (millionths of an inch) of an inch thick and of a fineness of 10K or better.
Pure gold is 24K and is rarely used in jewelry because it is too soft. Gold is normally mixed with copper and silver for yellow gold; or nickel, zinc and copper for white gold. 10K gold is 42% gold and 58% alloy. 14K is 58% gold and 42% alloy.
Collectors of gold know that this precious metal has unique properties that can be identified through careful examination. Protect your assets and be certain that the gold you buy matches the published claim.
Check out some tips to identify genuine gold and avoid being misled through devious practices at Sbcgold.com.