Richard Wagner's three-act music drama Die Meistersinger von Nürnberg premiered on June 21, 1868, at the Court Theatre in Munich, conducted by Hans von Bülow (1830-94), in the presence of King Ludwig II of Bavaria. Liszt recognized this work as a "masterpiece" and arranged "Am stillen Herd" (By the Quiet Hearth), sung by the young knight Walther (tenor) in Act 1, Scene 3, as an introduction of himself, for piano.

Following an introduction extended by two measures compared to the original, the first strophe begins in D major, as in the original. However, the ornamental second strophe starts in B major, a sixth above, returning to the original key after seven measures. Thereafter, skillful modulations (E major → D major → F major → D major) are repeated, and the flowing thematic motif develops beyond the original. The cadenzas frequently inserted into melodic gaps, the arpeggios added to every chord, and the countless trills and tremolos enhance the improvisatory character of this arrangement. Throughout this arrangement, which is notably ornamental, brilliant, pianistic, and virtuosic in its treatment, the sound of the piano, devoid of lyrics, truly creates a "song without words," as indicated by Liszt's unique marking "cantando" (singingly).

"Am stillen Herd" was likely completed between July and October 1871 and published by Bote & Bock in Berlin by the end of the year. Reprint editions were also issued after 1874. The title page reads: "Lied from Richard Wagner's Meistersinger / Am stillen Herd / Transcription for Piano." (While "transcription" is generally understood today as "a more faithful re-creation of the original" (A. Walker, The New Grove Dictionary of Music and Musicians (2001), Vol. 14, p. 767), Liszt's concept was quite the opposite; he used the term "transcription" for arrangements that treated the original freely, such as those employing the method of a concert paraphrase.) The autograph manuscript is currently held by the Institute for Musicology of the Hungarian Academy of Sciences (shelfmark: Fond 6/6).