I honestly can not think of one thing in particular to call my most treasured item.
There's my Bible - it's valuable!
Then there's my Kitchen Aid mixer - I love that big, red hunk of metal!!
My husband gave me crystal Tiffany's candlesticks for my wedding present, a beautiful locket our first married Christmas together, and of course my wedding rings.
Even still - I don't tend to treasure 'items' as much as people and memories. I have hundreds of truly treasured memories. I treasure my family. My friends. My son. He embodies every good and wonderful thing in the world and I treasure his smile above everything else.