To the one place where it could be destroyed, so it may surprise you to learn that in the books, there was in fact another way in which the Ring could have been unmade.
Your small fire, of course, would not melt even ordinary gold. This ring has already passed through it unscathed, and even unheated. But there is no smith's forge in this Shire that could change it at all. Not even the anvils and furnaces of the dwarves could do that. It has been said that dragon-fire could melt and consume the Rings of Power, but there is not now any dragon left on Earth in which the old fire is hot enough.
Yet Gandalf's words did not end there, he continued, revealing that the One Ring is in fact exempt from such a fate, for it was forged by means of a darker craft than the other Rings of Power.
Gil-galad had by then discovered that Sauron was busy in Eregion, but had secretly begun the making of a stronghold in Mordor (maybe already an Elvish name for that region, because of its volcano Orodruin and its eruptions - which were not made by Sauron but were a relic of the devastating works of Melkor in the Long First Age).
Deep within its fire-lit heart, as Sauron labored alone, the mountain's molten veins became his forge, and he was no elf, but a Maia, a spirit who had been present at the very shaping of the world.
This was why the One Ring stood alone and was no mere sibling to the other Rings of Power. It was not bound by the same limitations, nor was it made with the same purpose. It was a weapon of domination, saturated with the will of its maker, and in its potency, it eclipsed all others.
Confusingly, in the same passage where Gandalf speaks of dragon-fire, he actually states that the Ring must be cast back into the heart of Mount Doom, suggesting that it is only there that it could be unmade.
There is only one way: to find the Cracks of Doom in the depths of Orodruin, the Fire-mountain, and cast the Ring in there, if you really wish to destroy it, to put it beyond the grasp of the Enemy for ever.
Saruman, failing to get possession of the Ring, would in the confusion and treacheries of the time have found in Mordor the missing links in his own researches into Ring-lore, and before long he would have made a great ring of his own with which to challenge the self-styled ruler of Middle-earth.
Both Aulë and Sauron were of the Ainur, mighty beings akin to angels or demigods, who once sang the first vision of the world into being during the Music of the Ainulindalë.
Flight to the sea is now fraught with gravest peril. My heart tells me that Sauron will expect us to take the western way, when he learns what has befallen.
Being mounted upon horses, they could pass through the lands of men and scour the North for the Ring, without drawing any more attention than necessary.
But Gandalf has revealed to us that we cannot destroy it by any craft that we here possess, said Elrond. And they who dwell beyond the sea would not receive it; for good or ill it belongs to Middle-earth; it is for us who still dwell here to deal with it.
The few times the Valar, or even Eru Ilúvatar himself, directly intervened in the affairs of Middle-earth, the consequences were vast and irreversible.
And all its gardens and its halls and its towers, its tombs and its riches, and its jewels and its webs and its things painted and carven, and its laughter and its mirth and its music, its wisdom and its lore: they vanished for ever.
For to allow the Ring into Aman would have been to invite into its heart a fragment of the very poison that they had sought for millennia to keep at bay.
Thus the notion of bearing the Ring westward to the Grey Havens, embarking upon the Straight Road, and delivering it across the Sundering Seas to the Blessed Realm was doomed from its first utterance.