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Updated: May 29, 2025
One ring the dwarf tried to keep back, but in vain; and thereupon he laid a curse upon it: that the ring with the rest of the gold should be the death of whoever should get possession of it. In giving the gold to Hreidmar, Odin also tried to keep back the ring, but had to give it up to cover the last hair.
And Fafnir and Regin, the ransom being paid, loosed the shackles of Odin and Hoenir, and bade the three huntsmen go on their way. Odin and Hoenir at once shook off their human disguises, and, taking their own forms again, hastened with all speed back to Asgard. But Loki tarried a little while, and said to Hreidmar and his sons,
If, by that time, the gold is not here, you may do with us as you please." Hreidmar and the two young men agreed to Odin's offer; and, lots being cast, it fell to Loki to go and fetch the treasure. When he had been loosed from the cords which bound him, Loki donned his magic shoes, which had carried him over land and sea from the farthest bounds of the mid-world, and hastened away upon his errand.
Then he turned away, delighted that he had thus left the curse of Andvari with Hreidmar and his sons, and hastened northward toward the sea; for he wished to redeem the promise that he had made to the Ocean-queen, to bring back her magic net, and to decoy the richly laden ship into her clutches.
And every hair on the otter's skin had been covered with a gem or a piece of gold. And still old Hreidmar on his hands and knees was peering over the skin, searching, searching for a hair that was not covered. At last he lifted himself up on his knees. His mouth was open, but he was speechless.
But Loki tarried a little while, and said to Hreidmar and his sons: "By your greediness and falsehood you have won for yourselves the Curse of the Earth, which lies before you. It shall be your bane. It shall be the bane of everyone who holds it. It shall kindle strife between father and son, between brother and brother. It shall make you mean, selfish, beastly.
Eternal right is higher than I." Then the Asas asked Hreidmar, their jailer, what ransom they should pay for their freedom; and he, not knowing who they were, said, "I must first know what ransom you are able to give." "We will give you anything you may ask," hastily answered Loki. Hreidmar then called his sons, and bade them strip the skin from the otter's body.
"You killed an otter!" Hreidmar cried. "Where did you kill one?" "Where I killed him is of no import to you, old man," said Loki. "His skin is a good one, however. I have it at my belt." Hreidmar snatched the skin out of Loki's belt. As soon as he held the skin before his eyes he shrieked out, "Fafnir, Regin, my sons, come here and bring the thralls of your smithies. Come, come, come!"
When this was done, they brought the furry hide and spread it upon the ground; and Hreidmar said, "Bring shining gold and precious stones enough to cover every part of this otter skin. When you have paid so much ransom, you shall have your freedom." "That we will do," answered Odin. "But one of us must have leave to go and fetch it: the other two will stay fast bound until the morning dawns.
But, after every piece had been laid in its place; Hreidmar saw near the otter's mouth a single hair uncovered; and he declared, that unless this hair, too, were covered, the bargain would be unfulfilled, and the treasures and lives of his prisoners would be forfeited.
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