This struck me as being a far from typical photo from the late 1800s, when portraits were very solemn affairs. The man is very confident and has adopted a nonchalant pose, with one hand in his pocket. That certainly looks like a wedding ring, though I don't believe wedding rings were normally worn by men at that time, and what about the gloves that he is holding? Could the object earlier referred to as a picture actually be a hat with the inside lining showing? This does suggest some formal occasion.