I was just wondering. Is it just an art piece or is it something from the LotR lore? it doesn't remind me of something in particular. Maybe it's an orb? A Palantir? But what is the ring around it?

Mithril?

What about Galadriel's mirror? The white bits could be reflected sunlight?

Or it could just be a nice looking token

I just assumed it was a pearl-like gem in a setting.