Eager to obtain grand ring set in silver (4)
I believe the answer is:
agog
'eager' is the definition.
(thesaurus)
'grand ring set in silver' is the wordplay.
'grand' becomes 'g' ('G' can be a synonym of 'grand').
'ring' becomes 'o'.
'set in' means one lot of letters goes inside another.
'silver' becomes 'ag' (Ag is the chemical symbol for silver).
'g'+'o'='go'
'go' put within 'ag' is 'AGOG'.
'to obtain' acts as a link.
(Other definitions for agog that I've seen before include "Wide-eyed in anticipation" , "Receptive - wide-mouthed" , "Perfect" , "Mouth open" , "Expectant and wide-eyed" .)