Is this a red flag or am I being unfair if my boyfriend is not interested in a formal proposal?

My boyfriend has told me he wants to get married to me as soon as possible but he knows I want to wait a little longer since I've only been with him barely a year. I sort of kidding said that I hoped he'd formally propose with a ring or something I can have to signify the proposal. He replied, just use one of your old diamonds (I was widowed and my mom also left me a diamond I have in a necklace). I replied that I wasn't comfortable using the diamond my late husband gave me (that should be obvious) and I prefer not to reset my mom's diamond since it's in a nice necklace she left me as well and I already had it slightly redone and like it the way it is.

By the way, he is a professional and has his own practice, home and a country club membership so he is financially comfortable.

I don't want to seem shallow and really don't need another diamond, but something decent seems in order or, at the very minimum, I shouldn't have to use my older diamonds if I don't want to.

He is fairly generous, but so am I. In fact, his kids and grandkids visited my home yesterday and he was supposed to pick up lunch for all of us but he was having such a nice time, I offered to pick it up so I did and paid for it. He never offered the $ back it wasn't so cheap.

Are these signs of stupidity, selfishness or is it "normal"?