If I understand you correctly, you can't do that. I think it's only to reapir Barrows armour, and you can only get painted helms and kiteshields with your crest on.
What I used to do when I was f2p, was buy as many coal and iron ores as I could, smelt them and sell the bars. Small profit, easy, but VERY slow. It got me from about 50 smithing to 56-58 in two(three?) weeks.
I guess I didn't make it clear enough. They'd be emerald and ruby rings. My misstake, I guess. :oops: :P Unenchanted will be hard, but I think you can sell them. I'm not sure if you can get a break-even though... :-k
By the way, are you f2p? 'Caus the Boneyard will take awhile... But its still the fastest way to train in f2p. : If you're member, you should kill hill giants, collect(or buy :mrgreen:) the bones and use someone's gilded altar.