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All items acquired by either spouse belong to the "marriage." That is, the value of the items gets evenly split. Since the wedding rings are acquired during the marriage--right at the time the marriage begins--the value of the rings is split. Both wedding rings belong to both parties. Maybe they get sold and the money is split. Maybe each party keeps his or her own ring if the rings are of equal value. Maybe something else. But the point is, the wedding rings belong to the "marriage." The engagement ring, however, is usually a gift from the man to the woman given before the marriage begins. It's not "marital property." It's "pre-marital" property which belongs to the wife. The woman keeps it, and its value is not split during the divorce.
In terms of the loss after your separation, that's hard to say. Anything gained or lost after separation would be separate property, but this is a loss that occurred that was community property at the time of the loss.
And a loss that is associated with community property is going to remain community property.
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