SETTING TERMINOLOGY 

Basket Setting - Holds a cluster of stones that may or may not surround a larger center stone. The basket look is obtained as the outer prongs of the surrounding stones sweep down to the finger bezel under the cluster. 
Bezel Setting - the stone is completely surrounded with a frame of metal 
Channel Setting - stones are set between two channels of metal 
Gypsy/Flush/Burnished setting - stone or stones set into the metal directly by countersinking into metal and burnishing the edges around the stone 
Milgrain - Antique texture applied to edges of jewelry to give it an estate feel. 
Nick Setting - Same as Pick Setting. Usually applied to diamond setting - gives the appearance of channel setting however gold is nicked out of the floor or walls of the channel to hold stones in place. 
Pave - Stones set close together and held in place by beads (or grains) which cover a surface with a look of paving stones ("pave" in French) or a glittering carpet. Small round faceted stones are usually used in this application. 
Pick Setting - See Nick Setting. 
Pin Setting - Pave setting with stones further apart and separated by more prongs to give Wall-Prong Setting - Stones are set/secured in a ? wall, ? prong setting. 
Pre-set - A prong setting that is obtained as a finding and which has a stone already in place. 
Prong Setting - stone or stones set in four to six metal prongs 
Tension Setting - Stone is held in place by tension of two pieces of metal. 
Tiffany Setting - Plain 4-prong setting for a diamond, primarily used in solitaire rings - developed and originally marketed by Tiffany. 
Tube Setting - Metal tubing that secures the girdle of the stone. 
V-Setting/Chevron - A V-shaped prong that holds the corners of stones, such as marquise or squares. 

 The JDPN Glossary for the Jewelry Industry
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