The simple faux-silver band is intended to be given by women to their man in the hope that he will then replace it with a diamond dazzler.
The Ask Him Ring comes in a blue velvet box and is marketed as a ‘stand-by engagement ring.’
Taking to the Facebook group Extreme Couponing & Bargains UK one lad shared a snap of the ring, which encouraged a slew of comments from fellow members.
Facebook/Extreme Couponing & Bargains UK
A spokesperson for Poundland said they came out with the ideas as “the perfect way for women to take control of their destiny and for men to show off their love status and enjoy the engagement limelight for a change!
“The Poundland proposal is definitely the way to do it in 2020; and at only £1 why wait another four years to get down on one knee!”
The Leap Year tradition dictates that women can propose to their men on February 29, which only comes along every four years.
Originating from Irish folklore, the tradition states that any man who declined the proposal on this day would have to pay a fine.
This is not the first time that Poundland has stepped in when it comes to helping out frugal fiancés.
Last year the bargain retailer launched a collection of £1 engagement rings for her.
And within one week the store claimed to have sold over 20,000 of the rings.