Myths of the Norsemen: From the Eddas and Sagas

Hreidmar, king of the dwarf folk, was the father of three sons. Fafnir, the eldest, was gifted with a fearless soul and a powerful arm; Otter, the second, with snare and net, and the power of changing his form at will; and Regin, the youngest, with all wisdom and deftness of hand. To please the avaricious Hreidmar, this youngest son fashioned for him a house lined with glittering gold and flashing gems, and this was guarded by Fafnir, whose fierce glances and Ægis helmet none dared encounter.

As the gods came near to Hreidmar’s dwelling, Loki perceived an otter basking in the sun. This was none other than the dwarf king’s second son, Otter, who now succumbed to Loki’s usual love of destruction. Killing the unfortunate creature he flung its lifeless body over his shoulders, thinking it would furnish a good dish when meal time came.

Loki then hastened after his companions, and entering Hreidmar’s house with them, he flung his burden down upon the floor. The moment the dwarf king’s glance fell upon the seeming otter, he flew into a towering rage, and ere they could offer effective resistance the gods found themselves lying bound, and they heard Hreidmar declare that never should they recover their liberty until they could satisfy his thirst for gold by giving him of that precious substance enough to cover the skin of the otter inside and out.

As the otter-skin developed the property of stretching itself to a fabulous size, no ordinary treasure could suffice to cover it, and the plight of the gods, therefore, was a very bad one. The case, however, became a little more hopeful when Hreidmar consented to liberate one of their number. The emissary selected was Loki, who lost no time in setting off to the waterfall where the dwarf Andvari dwelt, in order that he might secure the treasure there amassed.

In spite of diligent search, however, Loki could not find the dwarf, until, perceiving a salmon sporting in the foaming waters, it occurred to him that the dwarf might have assumed this shape. Borrowing Ran’s net he soon caught the fish, and learned, as he had suspected, that it was Andvari. Finding that there was nothing else for it, the dwarf now reluctantly brought forth his mighty treasure and surrendered it all, including the Helmet of Dread and a hauberk of gold, reserving only a ring which was gifted with miraculous powers, and which, like a magnet, attracted the precious ore. But the greedy Loki, catching sight of it, wrenched it from off the dwarf’s finger and departed laughing, while his victim hurled angry curses after him, declaring that the ring would ever prove its possessor’s bane and would cause the death of many.

On arriving at Hreidmar’s house, Loki found the mighty treasure none too great, for the skin became larger with every object placed upon it, and he was forced to throw in the ring Andvaranaut (Andvari’s loom), which he had intended to retain, in order to secure the release of himself and his companions. Andvari’s curse of the gold soon began to operate. Fafnir and Regin both coveted a share, while Hriedmar gloated over his treasure night and day, and would not part with an item of it. Fafnir the invincible, seeing at last that he could not otherwise gratify his lust, slew his father, and seized the whole of the treasure, then, when Regin came to claim a share he drove him scornfully away and bade him earn his own living.

Thus exiled, Regin took refuge among men, to whom he taught the arts of sowing and reaping. He showed them how to work metals, sail the seas, tame horses, yoke beasts of burden, build houses, spin, weave, and sew—in short, all the industries of civilised life, which had hitherto been unknown. Years elapsed, and Regin patiently bided his time, hoping that some day he would find a hero strong enough to avenge his wrongs upon Fafnir, whom years of gloating over his treasure had changed into a horrible dragon, the terror of Gnîtaheid (Glittering Heath), where he had taken up his abode.