this hadith has no basis. Yet it has a corroborating report that indicates it does indeed have a firm basis: the hadith of Ubadah ibn al-Samit, may Allah be pleased with him, which has two chains:
The first: from Mughira ibn Ziyad, from Ubadah ibn Nusayy, from al-Aswad ibn Tha'labah, from him, who said:
“I taught writing and the Quran to some of the people of the Suffah. One of them gave me a bow as a gift, and I said: ‘It is not wealth, and I can shoot with it in the path of Allah. I shall go to the Messenger of Allah, peace and blessings be upon him, and ask him about it.’ So I came to him and said: ‘O Messenger of Allah, a man among those to whom I used to teach writing and the Quran gave me a bow as a gift. It is not wealth, and I can shoot with it in the path of Allah.’ He said: ‘If you would like to be made to wear a collar of Fire, then accept it.’”
It was narrated by Abu Dawud (2/237—al-Halabi), Ibn Majah (2/8), al-Tahawi (2/10), Abu Nu'aym in Akhbar Isfahan (2/82), al-Hakim (2/41), al-Bayhaqi (6/125), and Ahmad (5/315).
Al-Hakim said: “Its chain of transmission is authentic.”
Al-Dhahabi said: “I say: Mughira is acceptable in hadith, though Ibn Hibban declared him abandoned.”
Al-Bayhaqi quoted Ibn al-Madini as saying:
“All the narrators in its chain are known, except al-Aswad ibn Tha'labah, for we know of no hadith from him other than this hadith.”
That is what he said, although al-Aswad has three other hadiths, to which Ibn al-Turkumani and Ibn Hajar alluded. Having done so, however, they did not address the status of this al-Aswad, who is unknown, as stated in al-Taqrib.
In al-Mizan, he said: “He is not known.”