It means there are 2 minim beats per bar.
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A minim, since 2 2 is a simple duple time signature.
The 4 8 time signature indicates that there a four beats per measure and each beat is an eighth note.
2 and 2 could mean 22 if some one is trying to trick you but it could also mean 4. So next time someone asks you that then you know what to say
2.If you are talking about time, a quarter of eight is 7:45.If you mean quarter, then it is 2
The design is usually the makers 'signature' - the 14K is the purity of the gold.