The 'Bling Ring' jewellery is being sold at Poundland and has sparked a debate on social media.
A photo posted in the Facebook group 'Extreme Couponing and Bargains UK' show a silver ring with a red jewel, presented in a red heart-shaped box, with the slogan "because we promise they'll want to choose their own".
Some people liked the placeholder effect, saying it gave couples the chance to choose their ideal ring together.
One poster said: "Is this not the best idea ever? Buy a cheap ring from Poundland to propose then go to the shop so you can pick a proper one together."
However, some weren't a fan of the tongue-in-cheek approach, with one commenter asking: "Why would anyone want to pick their own ring? Isn't the point of it that the man you love has chosen it for you?"
One person simply added: "Nothing says undying love like an engagement ring from Poundland."
Poundland have said the rings available in a variety of colours are part of their new Valentine's Day range, and give people the opportunity to propose "before they need to invest in the real rock".
The high street store said: "These are beautiful placeholder rings because we know they'll want to buy their own.
"We're looking forward to the Poundland proposal becoming the way it's done. Our bling ring is setting the scene for the real deal."