These items need a slight overhaul in my opinion. Here is my debate, logic, and suggestions to make them viable items.

Sightstone cost 700 Gold which will take until the 2:50 mark with all the gold seals, quintessences, max masteries in Greed and Wealth and not purchasing anything else.

Each Ghost Ward last for 3 min. You can have 2 Ghost wards down at a time. Each Sight Ward is 75 gold and last 3 min. So Ghost Wards and Vision Wards are the same thing.
So 2 Ghost Wards down is 150 gold saved. So after placing 10 wards after 3 min apart you saved 750 gold. Which also equals out to 18 min game time (2 wards down and wait full time). You do get a 100 HP boost from this so lets make that up in the 50 gold so 2HP per gold which is fairly good, but only over the time period which is still debatable.

That works out fine in a way unless you're looking at one ward placement where that is over 30 min of gameplay to break even. Which doesn't seem to be worth an item slot.
If this is ONLY used as early game item rushed and bought before anything else is ALMOST feasible. However most people won't purchase this until 7-10 min in possibly. But then your looking at 25 plus min for the Sightstone to be worth the price.

The Ruby Sightstone is 600 gold more just for 1 extra Ghost Ward that can be placed and 300 HP. This is not worth the cost at all, the +300HP is only .88 less gold per HP than a Ruby Crystal (this is taking out 75 for a ward).

Basically the math doesn't add up for a Sightstone at current cost and Ruby is WAY overpriced. I think if the Sightstone were brought down 100 gold and the Ruby Sightstone 50 gold (so 150 gold off current price) it'd be more effective.

Just currently it's more cost effective to just buy Sight Wards since they don't take up an item slot until sold and you can carry 5 around in 1 slot.

The only other option I can think of is making Ghost Wards last 4 min or giving you an extra per Sightstone and Ruby Sightstone. This would balance it out and as I said before make it a viable option to use on a champion.

Can we give them a 2 Gold Per 5?

They don't need a buff. Sightstone: 2 ward/3min = 8.3 g/10. Ruby Sightstone = 2.5 ward/3 min = 10.4 g/10. You'd be buying the wards anyway with any other first purchase. Frankly the items are overpowered.

EDIT: Sight stone (700 gold) gives half the health that HoG (825 gold) used to give, for 125 less gold (+300 gold in free wards on your first outing), which means you can afford an extra pink ward. Ruby Sightstone (1300 gold) gives 100 hp more than HoG, with slightly more than twice the g/10 at 475 additional gold cost (equivalent to one ruby crystal-180 hp; net loss 80 HP~1 auto attack). The extra gold generation means that in 7.6 minutes you can afford the extra health crystal over HoG anyway (or invest it elsewhere if you feel you have enough HP).

Granted the item has **** stats late game, but it means your team has guarenteed wards which more than makes up for that. It beats the situation last season where you couldn't even have anything in your 6th item slot because you had to reserve it for wards.

TL: DR: At least you have stats late game, stats overpowered early.

NOTE: If you get counter warded as a support with this item, you actually get more G/10 since the item fully refreshes every time you back. This means that if you have to just keep chucking wards over the wall to make sure your jungler can smite steal drag/baron you personally as a support are not screwed with the ward cost of that play.

This

Sightstone is priced approximately the same as HoG was and offers a vastly superior financial gain as you are no longer spending money on anything other than pinks

It seems like it's ok but I still see it needing some adjustment. Yes it recharges on the back. But you can only have 2 out at once and not all, basically meaning you carry around 2 wards at a time. Once they're down and that times up you still have 2 wards (unless its ruby and it's 3 of course).

The cost of the item doesn't justify any gains honestly that I can see. You have limited ward ability since you can only drop 2 off of it and by the time it pays itself off the game is either over, or close to being over and the item isn't needed.

It doesn't fill the void of having an empty slot for wards. It's a plan ward and not a vision so can't see other wards or stealth units. I'm not even recommending a major buff just a slight buff really.

If you want to ward an area well you'd still need the extra slot for those wards.

Hell maybe next season instead of that biscuiteer and explorer, which I think is useless, make it extend ward times by :15/:30 which would defiantly make the stones less wanted.

In theory this works but in practice you're holding 2-3 Sightwards. If I have no cash I'll have that but if i go back I try to carry 5 at a time and spread them over the map. Vision Wards are only good in certain locations and if going against an Eve are the only things that should be bought.

If you want to buy the Sightstone, go ahead, but it's honestly just not worth it at the current price since you're actually at a slight disadvantage with it.