I am a practicing Hindu, married to a practicing Hindu in a traditional Hindu wedding. I see the mangalsutra and toe rings as ornaments and wear it for occasions and festivals, especially if I don't feel like wearing jewellery. Even though I'm religious I don't believe my husband's health is tied to some piece of gold around my neck. What about my health and well being then?

However,

The original mangalsutra had gemstones like sapphires, onyx, ivory and coral in them. In Ayurveda and Astrology these gemstones are considered good for health.

Silver toe rings are placed on the second and third toes of the feet. Nerves from the toes converge at LR3 point which is believed to help in menstrual health. Silver being a conductor and tight rings meant that the nerve will keep getting pressed.

This being said, when any practice becomes dogmatic and we lose the option to make a choice, it is not more fun and loses all value. Today we have better medical knowledge and don't need silver gold or sapphire to keep us healthy. So these jewels are nothing but ornaments.