Disclosed are structure for inlaying precious metal in and outer peripheral surface of a ring and method for manufacturing a ring inlaid with precious metal in an outer peripheral surface. The ring includes a annular blank obtained by compressing a powdered mixture including 80 to 85 weight percent of tungsten carbide in a mold by means of a hydraulic press, and a precious metal inlaid in an outer peripheral surface of the annular blank after sintering the annular blank. An annular groove is formed at an outer peripheral surface of the annular blank, in which the annular groove is defined by sidewalls, which are inwardly inclined in a downward direction, and a bottom wall. Inclined slots having a gradient identical to that of the inclined sidewalls are formed at both lower edge portions of the annular groove, in which the lower edge potions are defined between the bottom wall and the inclined sidewalls. The precious metal is inlaid in the annular groove and the inclined slots in such a manner that an upper surface of the precious metal and the outer peripheral surface of the annular blank is the same level.