or else Gandalf would not have thought that Bilbo's ring could be a lesser
ring. And a ring of invisibility, even if that is all it is, can indeed
be a dangerous temptation (see the story of the Ring of Gyges, or the original
story of Gollum). Furthermore ordinary rings of invisibility might still
cause a mortal to fade into a wraith, without offering any of the other powers
of the greater rings.
As for other magic items, yes, they can also be dangerous. Look at
Turin's sword, for example, which was as likely to kill friend as foe.
Not to mention the danger of thieves who want such a treasure for
themselves.
“I dislike Allegory - the conscious and intentional allegory - yet any attempt to explain the purport of myth or fairytale must use allegorical language. (And, of course, the more 'life' a story has the more readily will it be susceptible of allegorical interpretations: while the better a deliberate allegory is made the more nearly will it be acceptable just as a story.)” (From Tolkien Letter # 131.)
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