The Dwarves' Descent into Greed

The dwarves' obsession with the treasure, especially Thorin's, leads to a near-battle with the men and elves, and ultimately to the loss of life.

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The Treasure's Allure

The Gold's Influence The Dwarves' Joy Initially, the dwarves are overjoyed to find the treasure. They spend hours examining it, arming themselves with ancient weapons. The Dragon-sickness As they spend time with the gold, the dragon-sickness begins to affect them. They become possessive and reluctant to share. Thorin's Focus Thorin becomes obsessed with the Arkenstone. He searches for it constantly, ignoring the practical needs of the company.

The Siege and Stubbornness

The Standoff Thorin's Refusal Thorin refuses to negotiate with Bard and the Elvenking. He sees the treasure as his alone. The dwarves support him, blinded by greed. The Dwarves' Support Most dwarves side with Thorin, even though they know it's unfair. Only Bombur and a few others have doubts. The Threat of War The siege continues. Both sides prepare for battle. The treasure has become a curse, causing conflict instead of joy.

The Cost of Greed

The Reckoning Thorin's Death Thorin dies in battle, having regained his nobility. His greed nearly cost him everything, but he redeems himself. The Treasure's Distribution After the battle, the treasure is divided fairly. Bard gets a share for Lake-town, and the elves are paid. The remaining dwarves prosper under Dain. The Lesson The episode teaches that greed leads to destruction. The dwarves learn the value of friendship and generosity. The treasure is no longer a source of conflict.

After entering the Mountain, when they see the hoard

During the siege of the Mountain

During the Battle of Five Armies and after