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.
If you just start out at catching red chinchompas, you'll catch about 200 per hour, if your concentrated, at the right spot,alone,... I'm 82 hunting and catch about 300-350 per hour.