Two thousand years later, the Ring surfaces again. It is discovered by a stoor-hobbit called Deagol, and he is killed by his friend Smeagol who covets the Ring. Smeagol is banished by his people to the Misty Mountains. His life is extended by the Ring, but he becomes a twisted creature called Gollum.
From Gollum, the Ring falls into the hands of a hobbit named Bilbo Baggins. At the beginning of the first book, Frodo Baggins, Bilbo’s nephew, inherits the ring. Neither Bilbo nor Frodo know the true nature of the Ring, but their friend Gandalf the Wizard suspects what it is. When it is confirmed that it is the One Ring, Gandalf advises Frodo to get rid of it, for it has a tendency to corrupt whoever possesses it.