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WOW! This is quite a puzzle. Could mean so many things, but I have some theories.
First off, the letters you give R-E-S-D-P-H-M-L-H-Y. Could spell Meryl S. Phhd, but it's highly unlikely the designer said "let me find objects that start with the letters of my beloveds' name..." and then proceeded to make this beautiful piece. If so, why not take the letters from each of the processes involved and add them too, hopefully giving us more vowels to work with. It's more likely that each image/symbol depicted holds the secrets of the item. Wish I could see all sides of it for more clues! But what I did see tells me enough to get certain strong impressions about this item, which I will try to express here.
First off, I'd say that the bracelet was made by a talented jewelry artist (or by the artist on behalf of a patron/client) who was or is in love with a girl who's name starts with the letter "M", as evidenced by the "M" in the box. As a girl who spent countless hours doodleling the initials of her 'beloved du jour' on her notebook, purse or other close possessions, always embellishing these initials with hearts, vines, BOXES, etc., I think that's an easy starting point. Then there is the heart; it's obviously in the form of a lock, a symbol of frustration with feeling unable to get close enough to the object of his affections. He feels his heart is hopelessly locked up by this person, who does not necessarily return his love.
There appears to be a blue pear shaped setting, with wings; the pear shape symbolizes a tear, the wings making it fleeting, as the maker hopes his sadness will soon be gone. He wants the pain of his longing to fly far far away. The cottage with the tree is a symbol of wishing for matrimony or a happy life (or a good lengthy shack up) together with with his beloved. The bangle design itself is a symbol of a shackle, as he wishes to lock up this person, not literally of course, but figuratively; he wants to make her his possession. If not, why not just make a beautiful charm bracelet? With the resources to make such a costly item, this person is likely used to getting what he wants, and finds the pursuit process to be unbearably painful. He wants to buy her and be done with it, to own her, to lock her up like one of the other fine things he's collected, as she is a trophy to him. If I could see more of this bangle, I would probably have more theories to share.
I have studied mythology, symbology, dreams, puzzles, meanings of stones, etc. I am a Portuguese/Greek child of a huge psychic fan, and an 'enigma locked within a mystery' myself (according to my humanities professor). And let's just say I get strong impressions from things, and I do not feel the letters you gave us have any symbolism as to the maker or the identity of the objects desired recipient. If you have the answer, would you please share it with us eventually? Thank you very much for Tidbits, I look forward to reading it each week!
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