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Meaning of brass ring

brass' ring'

Pronunciation: [key]
— Informal. Informal.
  1. wealth, success, or a prestigious position considered as a goal or prize: Few of those who reach for the brass ring of the Presidency achieve it.
  2. the opportunity to try for such a prize.
Random House Unabridged Dictionary, Copyright © 1997, by Random House, Inc., on Infoplease.