Police are on the hunt for a suspect who may be sporting a stolen Stanley Cup ring won in the Edmonton Oilers' 1988 victory over the Boston Bruins.

Retired NHL player Norm Lacombe said his Stanley Cup ring was stolen some time between late May 26 and early May 27 from a vehicle parked on a rural road in Spruce Grove.

The suspect was spotted with the ring, making a purchase in the town of Devon. (RCMP)

Lacombe had removed the ring Saturday before golfing with his daughter and her boyfriend. The next morning, he went out to the car to make a grocery run and discovered the ring and his wallet were gone.

"I didn't believe it at first," he told CBC Thursday.

A man was caught on a surveillance camera Sunday using one of the stolen credit cards to make a purchase at the Independent Grocer in Devon, Alta.

The security footage shows the unidentified man wearing the gold ring as he walked into the store.

"It's actually surprising to all of us that the suspect would have the nerve to wear the ring in public," said RCMP spokesperson Shelley Nasheim.

"Helpful for us, but again, really surprising behaviour."

Since retiring from the NHL, Lacombe has worked in construction and as a hockey coach and strength trainer.

He said he never used to wear the ring, but started doing so during the past five years.

"You get older and you appreciate it way more, and I love showing it to kids," he said.

He won the diamond-encrusted ring during the team's glory days. The Oilers won the '88 final in four games to win their second straight Stanley Cup and fourth in five years.