Farewell, Dear Bilbo/Keep it Secret, Keep it Safe

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?

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 mantlepiece. No...wait...it's here in my pocket. 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. It's mine, I found it, it came to me!

Gandalf: There's no need to get angry.

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

Gandalf: Precious? It's been called that before, but not by you.

Bilbo: 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: Bilbo Baggins! Do not take me for some conjurer of cheap tricks. I am not trying to rob you. I'm trying to help you. All your long years we've been friends. Trust me as you once did. Let it go.

Bilbo: You're right Gandalf. The ring must go to Frodo. It's late, the road is long, and yes, it is time.

Gandalf: Bilbo. The ring is still in your pocket.

Bilbo: Oh. Yes. [drops ring, leaves Bag End] I've thought up an ending for my book. And he lived happily ever after, to the end of his days.

Gandalf: And I'm sure you will, my dear friend.

Bilbo: Goodbye Gandalf.

Gandalf: Goodbye, dear Bilbo.

Bilbo: (faintly) The road goes ever on and on Down from the door where it began...

Gandalf: ...until our next meeting.

Bilbo: (v.o.) It's mine. My own, my precious.

Gandalf: Riddles in the dark...

Frodo: Bilbo! Bilbo!

Gandalf:My precious...

Frodo:He's gone, hasn't he? He talked for so long about leaving, I didn't think he'd really do it. Gandalf?

Gandalf: Bilbo's ring. He's gone to stay with the elves. He's left you Bag End. Along with all his possessions. The ring is yours now. Put it somewhere out of sight.

Frodo: Where are you going?

Gandalf: There are some things I must see to.

Frodo: What things?

Gandalf: Questions. Questions that need answering.

Frodo: But you've only just arrived! I don't understand.

Gandalf: Neither do I. Keep it secret. Keep it safe.