1. Without wheels, so to speak, see it shine.
2. He holds currency, though muddled and directionless.
LAVA: Turn precedes a palindromic actress? Goodness, it’s hot!
4. Frodos Dreme? No, but it features heavily in at least one of his kinsman’s – take the fourth.
5. Something Bilbo would have seen, had they not been black. Take the second.
6. He sends no rugs back to the twin city?
7. An ocean! - Fingolfin’s squeeze, in turmoil, changes vowel on the first of November, and we see some – take the second one!
Frodos Dreme was just to put poetry into the clue.
You're looking for something that Bilbo dreams of.
Bilbo sees some things in Mirkwood when he climbs up into some trees, or is lifted up, (I forget which). They are ysually a differe.nt colour, but the ones he sees are black.