Not wishing to be nitpicky, but perhaps Bilbo saying 'Almost as old as I am' is a form of self derision, as old people often say things like 'Two thousand years ago, when I was at school...' and stuff like that. At least that's what I assumed when I heard it, realised it was wrong, then thought about it for a bit...
Still that's just my opinion, I could be wrong...
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