Hi congrads in the engagement but I would not wear the ring. I am so far from being Materialistic but I still could not wear it. But. I would maybe have the ring redesigned and then blessed. It would still be the stones and metals that was his grandmothers but now it has been changed into something that is truely, yours. Plus the blessing.
I still have my wedding ring from my first marriage. It ended badly but I kept it for my son in case he wanted it and it had several nice diamonds. However my son has autism and will more then likely never marry. When I met my second husband we could not afford a fancy ring and like I said earlier I am not materialistic so I did not care. My engagement ring, wedding band and my husbands came to around $330 total. I have since then lost a couple of diamond chips but I really don't care. I could use the stone from my first marriage but no. I just could not do that if that makes sense
Good luck
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