In my opinion, Saruman made his own ring, and that is the reason why he says to Gandalf he is a Ring-maker:
Quote:
"I am Saruman the Wise, Saruman Ring-maker, Saruman of Many Colours!"
The Council Of Elrond
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But it is said that not until that hour had such cold thoughts ruled Finrod; for indeed she whom he had loved was Amarië of the Vanyar, and she went not with him into exile.
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