The Fellowship of the Ring: Being the First Part of the Lord of the Rings · Chapter 5
Gandalf Reveals the Ring's True Nature
After seventeen years, Gandalf returns to Bag End and reveals that Bilbo's ring is the One Ring of Sauron. He recounts its history from Isildur through Gollum to Bilbo, explaining its corrupting power and the need to destroy it in Mount Doom.
Outcome
Frodo resolves to leave the Shire; Sam is recruited as companion; the quest to destroy the Ring begins.
