[1] Take a new file of 500 pixels, 400 pixels, of resolution 72 dpi in the RGB mode.

[2] Using the “Elliptical Marquee Tool” draw a shape as shown below fill that layer with #c2c2c2.

[3] Take the “Dodge Tool” & then highlight the following parts as shown below.

[4] Take the “Burn Tool” & then create the following Shading
with the help of Burn Tool.

[5] Create a new shape with the help of ‘Elliptical Marquee Tool’ fill that layer with #e1e1e1.

[6] With the “Dodge Tool” & then highlight the following parts as shown below.

[7] Now Open New Layer & then create the following shape with the help of ‘Pen Tool’ right click select ‘Make Selection’

[8] In Make Selection ‘feather radius’ should 0 pixels,Tick on New Selection & then ok
& fill the selection with #040404 your image should look like as shown below.

[9] With the “Dodge Tool” & then highlight the following parts as shown below.

[10] For this shape add the following layer styles.

[11] Create a new shape with the help of ‘Pen Tool’ fill that layer with #afb4b7.

[12] With the “Burn Tool” create the following Shading as shown below.

[13] Then take the “Dodge Tool” & then Highlight the following parts.

[14] Create a new shape with the help of ‘Polygonal Lasso Tool’ fill that layer with Black color.

[15] Now Open New Layer & then create the following shape with the help of ‘Pen Tool’ right click select ‘Make Selection’
In Make Selection ‘feather radius’ should 0 pixels,Tick on New Selection & then ok & fill the selection with #585858.

[16] Create a new shape with the help of ‘Ellipse Shape Tool’ fill that layer with Black color.

[17] Now select this layer then take the “Dodge Tool” & then Highlight the following parts.

[18] Use Custom Shape Tool and draw fill that layer with #adaea9 do not ‘D’ select.

[19] Now go to Select>Modify>Contract Selection by 1px.

[20] Now press Cntl+Shift+I, then take the “Burn Tool” create the following Shading.

[21] With the “Dodge Tool” & then Highlight the following parts as shown below.

[22] Create a new shpae with the help of ‘Rounded Rectantle Shape Tool’ fill that layer with #a5a4a2 do not ‘D’ select.

[23] Now go to Select>Modify>Contract Selection by 1px. Now press Cntl+Shift+I,
then take the “Burn Tool” create the following Shading.

[24] Now press Cntl+Shift+I, then take the “Burn Tool” create the following Shading.

[25] With the “Dodge Tool” & then Highlight the following parts as shown below.

[26] Now select both layers and press Cntl+E to Merge down layers then Make the
duplicate layer a few times with the help of Cntl+J and place it like me.

[27] You’ve already finished this tut with sample details:
This is my final result with some other details.

http://tutorialqueen.com/photoshop-tutorials/photoshp-silver-locket-icon