In the Tomb of the Giants, on an optional path. The Covetous Silver Serpent Ring is located across the first bonfires in the Tomb of the Giants, where we first meet Patches and close to the eventual path to the Boss Area. The ring can be reached by jumping down from the corpse next to a skeleton archer. It is in a hidden area, surrounded by hidden Bone Towers that emerge when the ring is in arms reach.
Grants an additional 20% souls for enemies killed. Stacks and compounds with the Symbol of Avarice, as well as overkilling enemies. These effects all stack multiplicatively, resulting in a total of 172.8% of the original amount of souls gained. The soul absorption delay following after killing a boss grants the player enough time to equip both the Symbol of Avarice, and the Silver Serpent Ring. Overkill does not take effect on boss enemies.