Lúthien Tinúviel & the Istari

[Alfirin]

Originally Posted by Mugwump

unless Gandalf didn't wear it but kept it under his hat (or as a nipple ring maybe)?

I actually think that's the case. Doesnt Gandalf say, when Frodo first notices Naria on his finger at the Grey Havens that he "wears it openly only now" (or is that just in the radio version?). That's sounds to me like he didn't actually wear the ring up until that point he just had it (unless he used some magic to make it invisible or unnoticed)