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Because during the unexpected party, Thorin promised Bilbo 1/14th payment of the treasure in return for Bilbo's services as a 'thief'. Though Bilbo did not do much in the way of being a thief, he did save the dwarves from Thranduil, as well as help them gain entrance into the mountain. They also wanted him on the journey because it would have been unlucky to take on their journey with 13 members. At the end of their adventures, Bilbo had obviously earned his 1/14th share, so Thorin fulfilled his promise and sent Bilbo home with a chest of treasure (though it is hinted later on in LotR that Bilbo ended up receiving more).

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13y ago

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Thorin gives Biblo a suit of Mithril as a sign of Friendship and him taking less then his share of the treasure recovered from Smaug

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14y ago
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Bilbo gave the elvenking a necklace because he had stayed in the palace for months, eating of his food and drinking his wine.

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13y ago
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It is a coat of mithril and is made of mithril. It isn't specific, but is referred to as living silver.

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11y ago
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Q: Why does Thorin give Bilbo a coat of Mithril?
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What does Bilbo give to the Elvenking?

He had borrowed several handkerchiefs from Elrond. He had complained of having left home without any of them. Bilbo left him 'such small gifts as he would accept' when they stopped on the return trip.


What does Gandalf give to Thorin?

At the unexpected party, Gandalf gives Thorin a map of the Lonely Mountain, which has information about a secret door and the key to the secret door.


How does Bilbo defend himself from Thorin's accusation that he stole the Arkenstone?

Well, as he justifies it to himself, he was entitled to a one fourteenth share of the treasure and which fourteenth was not specified. Though he was pretty sure that the Arkenstone would not be a part that he would get.


Why does Bilbo give up the arkenstone in chapter 16 of the hobbit?

Bilbo never intended to keep the Arkenstone. He only took it because he saw the feverish greed that overtook the Dwarves when the saw their long lost treasure. Knowing how badly Thorin coveted the Arkenstone, Bilbo kept it and later used it to bargain for his share of the treasure (which he intended to share with Bard and Thranduil). What it revealed was that deep at heart, Bilbo was a good person and only wanted to do what was right. It was why Gandalf was drawn to him in the first place.


Why did Bilbo take the Arkenstone in The Hobbit?

He is hoping that the desire for the Arkenstone would force Thorin to negotiate with the Men and Elves instead of fighting with them.Bilbo believes that if the men and elves have the Arkenstone, which Thorin values even more than gold, they may be able to convince the dwarves to bargain with them. If an agreement can be reached, it will spare a good deal of bloodshed.Also, Bilbo is getting quite tired of being trapped in the mountain, and wants to be somewhere with green grass underfoot and better meals.