Veteran actress Joan Collins often wears fake jewels, because she's scared she will be robbed on the streets.

The Dynasty star was left shaken when her friend, billionaire tycoon John Caudwell, was attacked by thieves who broke into his English mansion earlier this week.

Collins is convinced Caudwell was targeted because his wife, Claire Johnson, is often seen wearing pricey pieces of jewelry - and the actress insists on donning imitation jewels instead.

Speaking on The Talk, she says, "I like to wear things that aren't real during the day. I don't believe in going around with lots of jewelry because you never know, someone could come and grab it.

"A friend of ours in England, John Caudwell, was just tied up and robbed because his wife goes around dripping with jewels. You can't do that."

Host Sharon Osbourne then jokingly went to snatch Collins' gigantic ring, saying, "Hand over the ring!"

Collins then shocked the rock matriarch by confessing the gem isn't real and gave it to her as a gift, saying, "It's not real. Keep it - I'd like you to have it."