In the latest instance of actress turning designer, Kate Bosworth has teamed up with celebrity stylist Cher Coulter on the newly launched jewelry line JewelMint.

The two friends are collaborating on designs sold through a members-only club found at jewelmint.com. For a $29.99 monthly fee, subscribers get to pick a single item from a virtual library of jewelry to be sent to their home each month. The social-media-savvy site also allows friends to weigh in on subscribers' jewelry selections through Facebook and Twitter.

StyleList caught up with the ladies to talk baubles and Bosworth's designing instincts.

StyleList: How long have you two been talking about doing a collection together?
Kate Bosworth: Working together on this collection is a natural progression of our relationship. We've been best friends for nearly 10 years now and working together for almost five years. We have a real shorthand professionally and a harmonious balance when it comes to style.
Cher Coulter: We always thought about apparel, but then it seemed overwhelming. I studied fashion at Central Saint Martins and had my own clothing line for eight years, so I knew that a line was a lot of work. Jewelry seemed more spontaneous and rewarding.

StyleList: Do you have a philosophy when it comes to wearing jewelry?
K.B.: As long as it's an expression of your personal style and you feel confident, it's right. Personally, I can feel quite classic and minimalist during the day and at night feel more daring and rebellious. Jewelry really completes a style and it's versatile and fun to play with.
C.C.: I don't have any philosophies that I stick to 100 percent, but in general, I don't like to see large pieces worn all together -- a big necklace, big rings, big bracelets, etc. Right now, I love the punk-inspired idea of wearing lots of little cocktail rings across one's fingers for evening or multiple piercings and earrings.

StyleList: What were your first memories of jewelry as children?
K.B.: My mother still has bite marks on a gold locket she's worn ever since I was a baby. When I was first teething, I would get a lot of satisfaction in literally chewing her locket. The teeth marks remain!
C.C.: As a teen in the '80s, I loaded on cheap, dangly earrings and plastic bracelets. Then as I got more into art, I definitely became more hippie, with lots of friendship bracelets.

StyleList: What's the most special piece you've received as a gift?
K.B.: Anything given to me by my family is really most special to me. My mother gave me the sapphire sweet-16 ring that was given to her from her mother. My father's mother left me a beautiful diamond bow ring from early 1900s that I love and wear today. Whenever I'm wearing pieces given to me by loved ones, I always feel they're near.
C.C.: I received a Gucci watch for my 21st birthday with the classic red-and-green stripe. It had a men's face that was bigger and that's still so cool now. It was stolen in a break-in when I lived in L.A., so I searched for the exact same one and found it on eBay. So fantastic!

StyleList: Have any of the JewelMint pieces been inspired by pieces in your personal collections?
K.B.: Some pieces found in our collection have been inspired by bits Cher and I have found in vintage markets. And I recently took a trip back to Boston, where my parents reside, and raided my mom's costume jewelry from the '70s and brought a lot of it back with me for inspiration! I am constantly inspired by environment, by a mood, by a person. Recently, I was traveling around Sweden and hunted through antique markets for pieces to bring back to Cher. And we now have a pair of earrings in our February collection that were inspired by a silver pin found in Gothenburg.
C.C.: Each piece has been inspired by something Kate and I have experienced firsthand, and it's always fun to see what that inspiration evolves into. I got my inspiration for the Charleston earrings in our December collection from a pair of Deco-style earrings I found shopping at a church sale with my mum in the Cotswolds of England's countryside.

StyleList: Kate, you don't have a traditional background as a designer. Where do you feel the instinct to do this collection comes from?
K.B.: I have a sincere love for fashion, as both my grandfather and father worked in retail. And professionally, costume and fashion is what often gives me an understanding of my characters. I have a strong aesthetic sense for JewelMint and I believe that's an important component to this creative process. But to be honest, I have way too much respect for my designer friends to call myself a designer at this point!

Meanwhile, check out this roundup of Kate's best style moments.