Rings of Power talk!

[Alfirin]

Originally Posted by Inziladun

Sauron would certainly have had the One on his person when captured. However, the Númenóreans probably did not even know of the existence of the Rings of Power at that time. I can see the wily Sauron saying something along the lines of "Please, Great King, this heirloom is all I have left to me. Let me treasure it, since I have nothing else."
Since they were unwary enough about Sauron and his ways to have taken him to their homeland in the first place, I don't see why the Ring would have specially concerned them.

It also probably wouldn't have impressed them enough to be worth taking. Remember, in and of itself, the One Ring doesn't look like much, it's a simple gold band, without stone or (visible) inscription (it's unclear if the insription on the ring is visible perpetually when on Sauron's finger, but I tend to think it isn't, you have to put it in a fire to make the inscription seen. And since this is "old" sauron we are talking about who can still take fair forms, her presumably isn't in a form where his hand is continually on fire.) To the eyes of a Numernorian Royal or noble, it would appear a cheap trifle, the kind of thing they'd fob off on a low foot soldier for some minor service that meritied a token reward for appearances sake. Nothing worth taking.