As rumors flew that Charlize Theron and Sean Penn were now engaged after she was witness wearing a ring on her left hand, sources have stepped up to squash the story.

Sources have spokes exclusively with Us Weekly that Theron's ring, which is said to be an 18-karat yellow gold Anita Ko Leaf Ring, wasn't from her boyfriend like everyone assumed.

Rather, a source says the Young Adult actress actually purchased the ring herself, which cost $4,900.

News spread that the couple might now be engaged after the NY Daily News snapped a photo of Theron leaving the Los Angeles International Airport sporting the new ring.

While they might not yet be engage, sources - as it always is - have previously claimed that they are close to tying the knot.

Should they eventually get married, it would be a first for the 38-year-old actress, but the third time for the 53-year-old Penn. He was previously married to Madonna and Robin Wright. He currently has two adult children, while Theron has an adopted 2-year-old.

image courtesy of INFphoto.com