Today was rewatching the movie The Hobbit: An Unexpected Journey and got very curious about a scene after the riddle game between Gollum and Bilbo where Bilbo gets stuck between the cave walls / rocks while running away.
In that particular moment, we see the buttons from Bilbo's coat breaking and Bilbo falling into the floor on his back while holding the "sword"... then the ring gets into his finger and we see that Gollum doesn't see both Bilbo or the "sword".
Had to rewatch that scene to see if Bilbo was really holding the "sword" and he was... If that wasn't the case, would the "sword" be visible to Gollum?