There is an interesting discussion of Bombadil's brooch
here.
Quote:
This suggest to me that this was worn by some beautiful Elven lady in the First Age
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As noted in the thread linked to above, the brooch is more likely to have belonged to a lady of the race of Man, as the Barrow-Downs were used as burial sites by the Edain in the First Age and by the Kingdom of Cardolan in the Third Age.