Abstract: A cutting tool is provided with a plurality of circular cutting blades of varying predetermined thicknesses to shear sections from rings made of precious metals. Each blade is formed with a notched perimeter to provide a pair of blade cutting edges. The blades are mounted on a spindle for rotation therewith, while the spindle is rotatably mounted in a plurality of cutting blocks which are affixed to a base in an alternating arrangement with the aforesaid blades. The cutting blocks define cutting edges so that rotation of the spindle causes the blade cutting edges formed by the notched perimeter to come into a simultaneous shearing relation with the cutting edges of the two adjacent cutting blocks. Further rotation of the spindle will shear out a section of a ring interposed in the notched perimeter of the blade. The tool is further provided with removable trays to catch sheared pieces of precious metals. Rotation of the spindle is accomplished through a conventional crank handle.