I'm wondering whether this is a lance head.....why waste silver on a projectile, that in all likelyhood, you would never retrieve. I think the raised 'ring' is possibly a way of weighting the end for better balance or to help prevent penetrating too deeply. Bamboo would be an excellent shaft for a lance and a galloping horse would surely provide the necessary momentum, to do some serious damage to its target. A very sharply pointed lancehead may be a disadvantage in that it would be deeply imbedded after hitting the unfortunate victim

and difficult to retrieve whilst on horseback.
A few pictures...for the fun of it. The lancers on foot is from a painting entitled CHARGING ON FOOT WITH THE LANCE: BENGAL LANCERS ATTACK GERMAN TRENCHES.—From the Painting by R. Caton Woodville.
Regards David
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