Again, thank you for the help on our soldering problems

Now we were after some advise on crafting settings for cabochons please.
We were hoping to set a bezel strip onto a silver backing, an "O" shape, i.e with a hole in the centre as below pic indicates -

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I cannot see how this is made without a silver sheet, then stamping or drilling a hole through the centre.
I see cooksongold have rectangular wire, however I cant see how we would form that into a neat looking backing.

Am I right in thinking the silver sheet method is the only way forward ? Its a lot of waste material if so.

So much to learn