(Bilbo shakes him off, everyone laughs)

Bilbo: Today is my 111th birthday!

Hobbits: Happy birthday!

Hobbit:(raising his mug to Bilbo) Happy birthday!

Bilbo: But alas, eleventy-one years is far too short a time to live among such excellent and admirable Hobbits. (the Hobbits cheer) I don't know half of you half as well as I should like and I like less than half of you half as well as you deserve.

(The hobbits seem to not know how to take what Bilbo just said. They look at each other in confusion. Bilbo pulls the ring out of his pocket and fingers it behind his back. Gandalf watches closely, suspecting something. Frodo watches, his smile slowly vanishing.)

Bilbo: I, uh, I have things to do. (whispers to himself) I've put this off for far too long. (To the crowd) I regret to announce this is the end! I am going now. I bid you all a very fond farewell. (looking at Frodo) Goodbye.

(He puts on the Ring and disappears. The Hobbits gasp, not knowing what to think. They turn to each and start to whisper about Biblo disappearing. Frodo watches in shock and Gandalf takes his pipe from his mouth with surprise.)

(There is a big commotion among the hobbits as they look around and whisper to each other. The door at Bag End is opened, and once inside, Bilbo takes off the Ring, becoming visible. He walks into his study, laughing. He flips the Ring in the air, then puts it back in his pocket and pats it. Walks over and grabs his walking stick. Suddenly, Gandalf is seen in a corner)

Gandalf: I suppose you think that was terribly clever.

Bilbo: Come on, Gandalf! Did you see their faces?

Gandalf: There are many magic rings in this world Bilbo Baggins and none of them should be used lightly.

Bilbo: It was just a bit of fun! Oh, you’re probably right, as usual. You will keep an eye on Frodo, won’t you?

(Bilbo packs his stuff for the journey)

Gandalf: Two eyes. As often as I can spare them.

Bilbo: I’m leaving everything to him.

Gandalf: What about this Ring of yours, is that staying too?

Bilbo: Yes, yes. It’s in an envelope over there on the mantelpiece.

(Gandalf goes to the mantelpiece looking for the envelope.)

Bilbo: No. Wait, it's here in my pocket. (pulls out the Ring and looks at it) Heh, isn’t that--? Isn’t that odd, now? Yet, after all, why not? Why shouldn’t I keep it?

Gandalf: I think you should leave the Ring behind, Bilbo. Is that so hard?

Bilbo: Well no. And yes! Now it comes to it. I don’t feel like parting with it. Its mine. I found it! It came to me!

Gandalf: There’s no need to get angry.

(Bilbo turns towards Gandalf with a furious look on his face)

Bilbo: Well, if I’m angry, it’s your fault! It’s mine! My own. My precious.

Gandalf: Precious? Its been called that before, but not by you.

Bilbo: Argh! What business is it of yours what I do with my own things!

Gandalf: I think you’ve had that Ring quite long enough.

Bilbo: You want it for yourself!

(Gandalf takes a step forward, and talks to Bilbo with a dark, scary voice. The room grows dark around them.)