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"There are many magic rings in this world, Frodo Baggins, and none of them should be taken lightly"
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I think that the closest to this is found in the Shadow of the past:
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The lesser rings were only essays in the craft before it was full-grown, and to the Elven-smiths they were but trifles – yet still to my mind dangerous for mortals.
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What other sorts of magic rings (or other artifacts) existed in ME, and where did they come from?
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Drugs and dwarves too made magic objects (pukel men - and the doors of Moria, the spells the dwarves put on the treasure they burried in Hobbit, or that nice verse - the dwarves of yore made mighty spells, while hammers fell).