Attach to a hero.
Response: When attached hero is dealt any amount of damage, reduce that damage by 1.
It was of silver-steel which the Elves call mithril, and with it went a belt of pearls and crystals. –The Hobbit
Attach to the Ring-bearer.
Attached hero gets +1 
and +1 hit point.
"I should feel happier if I knew you were wearing it. I have a fancy it would turn even the knives of the Black Riders..." –Bilbo, The Fellowship of the Ring
Attach to a hero.
Response: When attached hero is dealt any amount of damage, reduce that damage by 1.
It was of silver-steel which the Elves call mithril, and with it went a belt of pearls and crystals. –The Hobbit
Attach to Bilbo Baggins.
Attached hero gets +1 and +1 hit point.
"Mr. Baggins!" he cried. "Here is the first payment of your reward! Cast off your old coat and put on this!" – Thorin, The Hobbit
Attach to the Ring-bearer.
Attached hero gets +1 and +1 hit point.
"I should feel happier if I knew you were wearing it. I have a fancy it would turn even the knives of the Black Riders..." –Bilbo, The Fellowship of the Ring