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Updated: May 23, 2025
"It was Reidmar the Ancient begat me; and now was he waxen old, And a covetous man and a king; and he bade, and I built him a hall, And a golden glorious house; and thereto his sons did he call, And he bade them be evil and wise, that his will through them might be wrought.
First, Regin asked for some of the gold, but not a penny would Reidmar give. So the two brothers laid their heads together and slew their sire. Then Regin begged Fafnir to share the gold with him. But 'no', Fafnir was stronger, and said he should keep it all himself, and Regin had best be off, unless he wished to fare the same way as Reidmar.
Regin, the king's smith, was his foster-father, and as the boy grew up the fairest and stoutest of all the Volsungs, Regin, who was of the dwarf race, urged him day by day to do a doughty deed, and slay Fafnir the Dragon. For Fafnir, Regin, and Otter had been brothers, sons of Reidmar. In one of their many wanderings, Odin, Loki, and Haenir came to a river and a forge.
But when Reidmar looked at it he saw still one grey hair, and bade them cover that too, else the atonement was at an end. Then Odin drew forth the ring and laid it over the grey hair. So the Aesir was set free, but before they went, Loki repeated the curse which Andvari had laid upon the ring and gold. It soon began to work.
Then the dwarf laid a curse on the ring, and said it should be every man's bane who owned it. 'So much the better' said Loki; and when he got back, Odin saw the ring how fair it was, and kept it to himself, but gave the gold to Reidmar. So Reidmar filled the skin with gold as full as he could, and set it up on end, and Odin poured gold over it, and covered it up.
'Seize and bind them lads', cried Reidmar; 'for they have slain your brother Otter'. So they were seized and bound by Regin and Fafnir, and offered an atonement to buy off the feud, and Reidmar was to name the sum. Then Otter was flayed, and the Aesir were to fill the skin with red gold, and cover it without, that not a hair could be seen.
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