Hi Wallace,
The leather sheath cover overlaps the thicker suspension ring band .
I would damage it if I pulled it back .
The suspension rings on this scabbard are triangular in cross section and probably German Silver , decorated and welded or soldered .
I'm as confused as you about the hilt construction; the pommel does seem a ring most likely wood . How they wrapped and capped it on the hilt I just cannot figure out; but, at least you have a picture .
Here is a link to the complete sword .
http://www.oriental-arms.com/photos.php?id=1967
Rick