The ring is destroyed for two reasons:
1) as a holdover from medievil traditions of sealing wax in order to legitimize a document against forgery, the papal ring was destroyed so that no extras would ever be available to create forged documents (generally of heresies) and present them as official teachings of the Pope.
2) The power of EACH pope is vested in the fact that they are the successor of St Peter, the first bishop of Rome and a fisherman. Each pope's succession is marked, therefore, by the possession of a unique fisherman's ring, which is presented upon apointment to the papacy and destroyed upon death. It is one office (ring design) with many (iterations) who have sat in the Cathedros (Chair) of Rome/Peter
Not a lot the pope's ring is made out of gold and has an engraving on it. Somewhere in the range of $375-$450 dollars now the actual engraving may cost more to make. Also the pope's rings are destroyed after they die or abdicate.
To show respect for the Papacy.
Yes. Whenever a pope dies or resigns the papal ring and papal seals are destroyed.
It was destroyed in Dumbledore's office using the sword of Gryffindor.
It is destroyed so that it can not be used to seal any false documents.
Upon a papal death, the ring is ceremonially crushed in the presence of other cardinals by the Camerlengo, in order to prevent the sealing of backdated, forged documents during the interregnum, or sede vacante.
The diary killed by harry in the Chamber of Secrets by the basilisk fang in the movie "Harry Potter and the Chamber of Secrets" The Gaunt Ring killed by Dumbledore in the movie "Harry Potter and the Half-Blood Prince" There were only 2 horcruxes killed before the deathly ghallows!
The horcruxes are: Salazar Slytherins locket, Tom Riddles diary, the ring, Nagini, Harry, The lost diadem of Rawenclaw and The golden cup of Hufflepuff. Ron destroyed the locket with The sword of Griffindor. Harry destroyed the diary with a basilisk fang. Dumbledore destroyed the ring with the sword of Griffindor. Nagini was destroyed by Neville with the sword of Griffindor. The diadem was destroyed by Crabbes Fiend fire in the book, but Harry destroyed it with a basilisk fang in the movie. Hermione destroyed the cup with a basilisk fang. I hope that answered your question ;)
Popes do not elect popes. Popes are elected by the cardinal electors.
Diary is destroyed by Basilisk Venom Ring is destroyed by Sword of Gryffindor Locket is destroyed by Sword of Gryffindor Hufflepuff's Goblet is destroyed using Basilisk fang Ravenclaw Diadem is destroyed using Cursed Fire Harry is "destroyed" by Voldemort himself, using Killing Curse Nagini is destroyed using Sword of Gryffindor
He dies forevermore. His spirit leaves middle earth
The vast majority of popes have been Italian. As of February of 2013 there have been only 18 popes from other countries.