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Did Balin suspect the Ring of being something more?

I think Balin was affected by the hate and malice poured into the ring by an evil god/devil, though not much.

The symptons of being drawn to the ring first seem to start with curiosity and though the necromancer would have been aware of the discovery of the ring, he would not have the power to know what was going on or to do anything about it. So this curiosity would mostly be normal dwarven curiosity at such a precious object, just the normal amount of materialism within a dwarf, slightly heightenned, but not really affecting Balin much.

He probably would have rememberred the ring, but not obsessively. I think anyone who has seen the ring, even if they did not know of it's importance, would have rememberred it for the rest of their lives considerring it's effect on people. Occasionally he would sit there and think about the ring, what a curious ring, I wonder what I could gain if I had that ring, never getting hugely obsessed with it, just wanting to know what the ring was. Like those humans who were affected by it in the prancing pony, they might forget about the strange dissapearing hobbit, but that ring...
 
As has been pointed out, the whole question is moot since at the time Tolkien wrote The Hobbit, he had not thought up the seven rings!
 
I think it should be noted by both sides of the argument that Balin was the one who went to Moria to find one of the Seven. This should not be over looked. I wish there was the 5 given to Hobbits, that would have been funny.. Then it would have made more sense too,1 3 5 7 9.
 
How do we know the Dwarvish rings conferred invisbility? It seems that they didn't. Also, as Greenwood has pointed out, the History of the Rings wasn't invented when The Hobbit was written. Also, Balin isn't really sure about the functions of the Elven Rings anyway, so I doubt he had any ring lore, and I doubt he would have put the two together. (That Bilbo had stumbled upon a great ring.)
 
Elgee, my dear, one of Balin's main reasons for returning to Moria was his hope to locate Thror's Ring. So, maybe Balin had a little of the dwarvish greed and wasn't quite the noble soul you make him out to be...

Cheers,

grond
 
I don't see going after the dwarvish ring as being particularly ignoble. Perhaps a bit greedy, but it would be a relic of honor. As the dwarven rings did not bring the dwarves to total corruption, I doubt they ever saw them as being ignoble at all. Moreof, Balin would consider it an heirloom, a badge of honor, and a precious relic.
 
It was gold which beget more gold. A very good reason for a dwarf to go a hunting. Remember that revenge was only part of the reason that the original Hobbit expedition took place. It was just as important to the Dwarves to regain their great wealth. (And remember, Dwarves are depicted by Tolkien as being greedy. Look what happened to good ole Thorin Oakenshield even without a Dwarf Ring of Power!)

Cheers,

grond
 
I have a feeling that lore about the rings wasn't common knowledge at that time... while Balin might know about the Seven, the One would be only a legend to him.
 
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