The quest to recover a lost piece of priceless jewelry seems a natural topic for a good adventure story. Yet when the aggrieved quester discovers that the prize is not his, that it is not as valuable as he believed, and that he will die if he tries to regain it, the reader may begin to wonder if the story is really about adventure after all. Such is the case with Pearl, translated by J. R. R. Tolkien, and the story of Gollum that begins in The Hobbit and continues in The Lord of the Rings.1 Both the narrator of Pearl, who identifies himself as a jeweler (252), and Gollum must undertake a journey to find the thing each calls “my precious,” only to discover that he cannot reclaim it and live. The choice each character makes determines his eternal destiny; taken together, the moral lesson portrayed by both quests forms a powerful challenge to the reader.