Authorities charged 52-year-old Ronald Perley with theft and falsifying physical evidence after they say X-rays showed the 14-karat white-gold ring with princess-cut diamonds inside him.
A local television station reports Manchester police had recovered the ring as of Saturday.
Perley allegedly went into Bellman's Jewelers on Thursday asking about engagement rings. Workers said he grabbed a ring then swallowed it after being confronted.
Police say surveillance footage shows Perley taking the ring and putting his hand to his mouth.
Perley was being held on $50,000 bail. It's not clear if he has an attorney.