Gold is called 'Kraki's seed'. The poor boy Vöggr gives the young, spindly king the nickname 'kraki' (beanpole); the king takes it in good humour and gives him a gold ring, whereupon Vöggr swears to avenge his death.

Hví er gull kallat sáð Kraka? Konungr einn í Danmörk er nefndr Hrólfr kraki. Hann var ágætastr fornkonunga fyrst af mildi ok fræknleik ok lítillæti. Þat er eitt mark um lítillæti hans, er mjök er fært í frásagnir, at einn lítill sveinn ok fátækr er nefndr Vöggr. Hann kom í höll Hrólfs konungs. Þá var konungrinn ungr at aldri ok grannligr á vöxt. Þá gekk Vöggr fyrir hann ok sá upp á hann.

Why is gold called Kraki's seed? A certain king in Denmark is named Hrólfr kraki. He was the most excellent of the ancient kings, first in generosity and valour and humility. There is one mark of his humility, much brought into the tales, that a certain little and poor boy is named Vöggr. He came into the hall of King Hrólfr. Then the king was young of age and slender of growth. Then Vöggr went before him and looked up at him.

Þá mælti konungr: "Hvat viltu mæla, sveinn, er þú sér á mik?"

Then the king said: »What will you say, boy, that you look at me?«

Vöggr segir: "Þá er ek var heima, heyrðak sagt, at Hrólfr konungr at Hleiðru var mestr maðr á Norðrlöndum, en nú sitr hér í hásæti kraki einn lítill, ok kallið þér hann konung."

Vöggr says: »When I was at home, I heard it said that King Hrólfr at Hleiðr was the greatest man in the Northlands; but now here sits in the high seat a little kraki [beanpole], and you call him king.«

Þá svarar konungr: "Þú, sveinn, hefir gefit mér nafn, at ek skal heita Hrólfr kraki, en þat er títt, at gjöf skal fylgja nafnfesti. Nú sé ek þik enga gjöf hafa til at gefa mér at nafnfesti, þá er mér sé þægilig. Nú skal sá gefa öðrum, er til hefir," - tók gullhring af hendi sér ok gaf honum.

Then the king answers: »You, boy, have given me a name, that I shall be called Hrólfr kraki; and it is the custom that a gift shall accompany the name-fastening. Now I see you have no gift to give me for the naming that would please me. Now let him who has it give to the other« — and he took a gold ring off his hand and gave it to him.

Þá mælti Vöggr: "Gef þú allra konunga heilastr, ok þess strengi ek heit at verða þess manns bani, er þinn banamaðr verðr."

Then Vöggr said: »Give, of all kings the most blessed! And I swear this vow, to be the slayer of the man who becomes your slayer.«

Þá mælti konungr ok hló við: "Litlu verðr Vöggr feginn."

Then the king said, laughing: »Vöggr is pleased with little.«