Gandalf The Wise?
I spent the most part of 20mins having a browse through "Of The Rings of Power" trying to find a certain passage,
heres what I am trying to get across:
Gandalf & Saruman both knew the ring of power was lost, Saruman wanted to find it first and set out spies and whatnot to the Galladen Fields to look.
Gandalf didn't want Saruman to find it!
BOTH wizards knew the full extent of the ring and that it was a ring of power and that it was lost.
Now.....Gandalf was there when BILBO found the ring, Gandalf knew he found a ring of magnificance, he knew Bilbo could turn invisible and whatnot and knew he got it from Gollum/Smeagol,
What I am wondering is Gandalf was long searching for a Ring and Bilbo (one of his friends) found a ring and Gandalf knew nothing about it being the one ring
You think he would of put "2 and 2 together"