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"We did what young kids do and I lost my ring that weekend," Keelen told Patch. "I figured if it was lost on the beach it was toast. I considered it was gone all these years."
Anthony DiMaria Sadorski, 21, said he was taking photos at sunset a Beaver Dam Creek, near his home in Point Pleasant Borough, when a shiny object caught his eye.
He posted photos of his discovery, a Watchung Regional High School Class of '72 ring, to Facebook, where it was eventually shared to the graduating class' Facebook group.
Keelan said classmates quickly alerted him to the post.
"They say, 'Jim that's got to be you that they're looking for,'" Keelen told News 12 New Jersey.
He said the ring was found a few miles inland from where it was originally lost 51 years earlier. He said Superstorm Sandy may have played a role in the ring's story.
"My thinking is that it washed off the beach further inland into these marshes and creek," Keelen said.
Keelan said he was surprised to find the ring is still in good condition. He said he is now having it resized.
"I'm going to wear it. I mean this is unbelievable. I'll wear it," Keelen said.