I think Bilbo's referring to the Ring as Precious is a way of showing that Bilbo is becoming like Gollum. (And there are many references to Gollum calling the Ring Precious.)

LotR, FotR, Book 1, Chapter 1. Bilbo says,

Isildur was beginning to have the same problem. LotR, FotR, Book 2, Chapter 2.

Frodo was also coming under the Ring's spell. (as already quoted by Perwing).

Saruman was even coming under the spell of the Ring (since he had studied it and become obssessed with it), so he also called it Precious.

LotR, FotR, Book 2, Chapter 2

Tom is about the only anomoly, but that's just Tom's nature anyway.

I don't think there is much difference between My Precious and The Precious Ring. I think it still means that the Ring is influencing the person who thinks/says it is Precious.

Just some more of my thoughts. I love reading what everyone thinks of this. I just can't believe I never noticed it all the other times I've read LotR.



[Edited on 5/5/2003 by McDLT]

Yes McDLT, I think that Tolkien used the word 'precious' as a literary device to show the reader that the bearer was becoming ensnared by the ring.

I haven't noticed if Frodo called it Precious in the books, but I believe PJ used this to dramatic effect in TTT.

I agree with what Allyssa said about the use of the word 'precious' indicating the begining of ensnarement. And therefore it's interesting that Frodo does not call the Ring 'precious' except for once when he says the Gollum is looking for 'his precious' but I don't think that one really counts because he is using the word partly to illustrate to Sam why Gollum is always 'my precious'. Similarily, when some others such as Gandalf say 'the precious ring' I don't think it is the same because he knows that Gollum calls the Ring 'precious' and is sort of quoting him by calling it that too. (if that makes any sense, sry not good at explanations today...) However, when people like Sauruman call it 'precious' it is the same because they know nothing about Gollum and seem to be suddenly inspired to use the word.