An excellent question. Theoretically i'd have to say yes they could be. It seems the only thing required to make such amazing works as the rings and silmarils is the knowledge how and a spirit strong enough.
The Silmarils were made by Feanor himself, the greatest elf ever and the rings were made by one of his grandsons with the help/knowledge of Sauron. So it wouldn't really be a likely thing to happen but if an elf, or perhaps even man, was born with a spirit as strong as these great elves of the past...and the knowledge was provided to him by some means..yes it could happen. An idea for a fan fic but nothing more.
Evenstar1: Morgoth doesn't have the Silmarils any more. Gotta read the Silm [img]smilies/wink.gif[/img]
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