I have a copy of the Silmarillion but I have yet to read it sadly. I will make sure to give it a read when I get the chance.
The Hobbit was one of the first books I ever read, I remember reading it in class as well, although the one I read in class was a later edition with some lovely artwork by Alan Lee. I had an earlier edition (sixties or seventies I think) with the more traditional green and blue cover with the mountains on it.