I apologize if this has already been discussed (please point me to the proper topic. Thanks!)
When I accept the Bring Aela her shield quest from the smith (I receive her shield from him) my nice new Steel Shield vanishes from my inventory. It does not return later.
I have tried giving my shield to my companion before accepting the quest. I have tried dropping my shield before accepting the quest. My shield disappears, no matter what.
At this early point in the game it is quite a bit of money to replace, and the smith is out of steel shields so I have to buy a banded one.
Any fixes?