Mike Kayatta said:
Believe it not, there was once a time when no one knew what the hell a "hobbit" was. In fact, it wasn't until thirty years after its publication that anyone paid much attention to J.R.R. Tolkien's little children's adventure book at all.
That's just unabashedly false (and poorly researched). It was praised everywhere upon publication. In fact,
the year it came out, 1937, Tolkien's publisher asked for a sequel (which in publishing is generally only asked for if there's money to be made by doing so). Tolkien gave him
The Silmarillion. The publisher asked for "more hobbits" (or something to that regard) based on how popular
The Hobbit was. And that's how we got
The Lord of the Rings.
What you're thinking of is (and what's discussed in the article) that
The Lord of the Rings and
The Hobbit were
repopularized during the '60s as a symbol of the counterculture. But all those college kids reading it then had probably had it read to them as children by their parents, who had themselves read it during their youth in 1937.