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Treasures are Transportable Items that can sold to Trading Companies in exchange for Gold, Doubloons, Reputation and Emissary Value.


Treasure is transported by carrying in the player's hands or aboard a ship/rowboat. A player can only hold one treasure at one time no matter its size, and cannot fight or use any equipment or resources while they are carrying treasure. Most small treasures can be placed inside Container Chests for easier transportation and delivery. This also hides any emitted glow, glint or sounds a treasure emits. Container Chests can carry up to three small treasures.

Harpoons can be used for quick retrieval of treasure from a distance, such as from land or floating in water.

Any treasure that has been picked up and dropped again will eventually despawn if left untouched. If dropped on land, the treasure will stay there for as long as possible (approximately two hours). If dropped in open water, most treasure will sink after about five minutes of floating, with the exception of Trade Good Crates, which have been found to stay afloat for fifteen minutes.

While players are sailing as a Trading Company Emissary and touch a treasure related to that company for the first time, it will reward Emissary Grade progression. The crew will receive additional grade progression by placing the treasure on their ship for the first time.

Where to find

Each Trading Company have certain types of treasure associated with them. Players can sell these treasures to those Companies in return for rewards. The Company Representatives offer purchasable voyages that task players with quests leading to these treasures.

Treasures will have a colored glint or glow surrounding them so that players can spot them and identify their type from afar.

In addition to voyages, treasure can also be found from (but not limited to) the following sources:

Types of Treasure

Treasures are often grouped by the Trading Company that cherishes them most. Treasures within these groups often have different variants, appearing similar but with slight unique differences: Regular, Devil's Roar or Ashen, Stronghold or Skeletal and Ghostly. The type of variant can depend on where or how they are found, but can also be found at random.

Gold Hoarders Treasure

The following are the treasure that can be sold to the Gold Hoarders Trading Company on any Outpost for Gold and Reputation.

Treasure Chests

Main article: Treasure Chest

Treasure Chests are unbreakable and locked Chests of Treasure that are sold to the Gold Hoarders, who have the Keys to open these Chests, for a margin of their contents. Moreover, Treasure Chests can be found as a part of Gold Hoarder Voyages, Treasure Maps and Riddle Maps, or randomly across The Sea of Thieves. Treasure Chests emit a White Glint from a distance. There are six types of Treasure Chests: Regular, Barnacled, Coral, Ashen, Valuable and Cursed Treasure Chests:

  • Regular Treasure Chests have no distinct qualities to them.
  • Barnacled or Shipwrecked Treasure Chests are damaged versions of regular Treasure Chests that can be usually found underwater or on the seas. These sell for the same amount as their regular counterparts.
  • Coral Treasure Chests are coral-encrusted versions of the Regular Chests that are found only in Siren Shrines And Siren Treasuries.
  • Ashen Treasure Chests are molten versions of regular Treasure Chests. These are most commonly found in The Devil's Roar and can be sold for almost double the price of their regular counterparts.
  • Valuable Chests that are specific to various Encounters on the seas
  • Cursed Treasure Chests are tied to specific Locations or have specific Effects tied to them and are generally very valuable.


Main article: Artefacts

Artefacts are small treasures found either on their own, or hidden away in select Container Chests. They can only be sold to the Gold Hoarders, or at the Reaper's Hideout. There are four variety groups of Artefacts:

  • Regular Artefacts are a selection of small Containers, Boxes or Ornaments made out of valuable metals and gems. These Trinkets emit a Golden Glint from a distance. They share their pricing tiers with Treasure Chests.
  • Devil's Roar Artefacts, which have an Orange Glint to them and are covered in the red hot gems of the Roar. Generally more valuable than regular versions.
  • Ashen Artefacts, which are found as a part of The Seabound Soul Tall Tale. These look almost exactly the same as Devil's Roar Artefacts, except they sell for very little.
  • Coral Artefacts are coral-encrusted versions of some of the Regular Artefacts that are found only in Siren Shrines And Siren Treasuries.

Treasure Vault Keys

Main article: Treasure Vault Keys

Treasure Vault Keys are small Totems that lead and open Gold Hoarders Treasure Vaults hidden away on Large Islands. These Keys can be acquired through Wayfinder Voyages offered by Gold Hoarders. There are 5 types of Totem keys, each appearing in 3 different materials - Stone, Silver and Gold. The Totem of the key determines the location of the Vault, the material of the Key determines the value of the Key and the loot in the Vault, as well as the difficulty of the Vault.

Raid Treasures

Main article: Raid Treasures

Raid Treasures are final rewards for completing a company-specific Raid Voyage. For the Gold Hoarders, the rewards are the following:

Magical Items of the Order of Souls

The following are the treasures that can be sold to the Order of Souls Trading Company on any Outpost for Gold and Reputation.

Bounty Skulls

Main article: Bounty Skulls

Bounty Skulls are cursed Skulls belonging to Skeleton Captains that can be sold to the Order of Souls Representatives who will use magic to look into the memories of said Captains. The Captains can be found as a part of Bounty Voyages sold by the Order, Bounty Maps found on the seas, or wandering around on Islands solo. Their Skulls can also be found littered all over The Sea of Thieves. There are four types of Bounty Skulls:

  • Cursed Skulls that have a dominant green glow to them.
  • Ashen Bounty Skulls are variants of the Regular Skulls, which have additional lines of hot fire imprinted on them. They sell for roughly twice the amount of their regular counterparts.
  • Powerful Skulls that are only received from specific Locations or from specific Skeletal Enemies and are generally more valuable.
  • Coral Skulls are coral-encrusted versions of some of the Regular Skulls that are found only in Siren Shrines And Siren Treasuries.

Dark Relics (Legacy)

Main article: Dark Relics

Dark Relics were various Relics related to dark Rituals that were stolen from the Order by Skeletons. The Order of Souls requested the help of the Bilge Rats during the Dark Relics Event, who offered Pirates Dark Relic Voyages for a limited time to retrieve these valuables. After the event, most of the Dark Relics are now kept safe by the Order and Bilge Rats, who have attempted to use these Items for various rituals and thus are no longer found on the Seas.

Raid Treasures

Main article: Raid Treasures

Raid Treasures are final rewards for completing a company-specific Raid Voyage. For the Order of Souls, the rewards are the following:

Merchant Alliance Goods

The following are the Treasures that can be sold to the Merchant Alliance Trading Company on any Outpost for Gold and Reputation. Many Merchant Alliance Goods are commissioned to be delivered in a certain amount of time, upon which they sell for ten times their regular value. Players can use the Pocket Watch to keep track of the date and time.

Captured Animals

Main article: Animal Crates

The Merchant Alliance values wild animals as a commodity and as such commissions Merchant Voyages by giving players the necessary Animal Crates for capturing and delivering them to a certain location in a certain amount of time. These Animals need to be caught in their respective Crate to be sold. Empty Animal Crates cannot be sold. The Animals themselves can be found roaming around on Islands. There are four variations of each Animal, each fetching a different price. Note that any Animals that are captured without a commission from the Merchant Alliance will fetch a very small reward. There are three types of Animals that the Merchant Alliance is looking for:

  • Chickens, who are tame, slow and easy to capture.
  • Snakes, who are wild and can inflict poison damage if not first calmed by playing instruments.
  • Pigs, who are active, quick and become hungry if not fed food every now and then.


Main article: Explosives

Gunpowder Barrels are explosives that can either be used to blow up Ships and Enemies, set Fires or be sold to any Merchant Alliance Traders instead. Without a Commission, Gunpowder Kegs don't sell for very much, but every now and then, Players may find Merchant Voyages with a deadline, requesting Kegs aside the usual Animals, in which case they are willing to pay ten times the regular amount for regular Kegs. Gunpowder Barrel requisitions can also be found from single Trade Good Commissions from around the Seas. Gunpowder Barrels can generally be found on Fortress Islands or among Barrels of Plenty or Shipwrecks. These can also be retrieved from Gunpowder Skeletons. There are currently two types of Gunpowder Barrels:

Resource Crates

Main article: Resource Crates

Resource Crates are crates that may store specific resources. These can be found by chance, however, filled crates can be purchased from the Merchant Alliance Representatives, or obtained empty when an active Trade Good Commission quest requires one.

Trade Good Crates

Main article: Trade Good Crates

Trade Good Crates are various closed Crates of valuable Trade Goods. Trade Good Crates can be found all over The Sea of Thieves, both on land and the open seas. These Crates do not have delivery deadlines, commissions, Commendations nor any specific Voyages related to them, however, they fetch an above average Gold and Reputation reward from Merchant Alliance Representatives. There are three categories of Trade Good Crates:

  • Regular colored Crates of your valuable Trade Goods, available all over the seas.
  • Goods from The Devil's Roar, closed in darker-shade crates that still burn with embers that are more likely to spawn in the Roar.
  • The Crate of Ancient Bone Dust, which only appears in Fortress Vaults and is the most valuable Crate.

Merchant Coffers

Main article: Coffers

Merchant Coffers are small coral-encrusted trade good coffers that are found only in Siren Shrines And Siren Treasuries.

Cargo Crates

Main article: Cargo Crates

Cargo Crates are open Crates of valuable, yet fragile, Trade Goods that require to be delivered not only within a time limit, but also in good condition. These Crates are mostly picked up from and delivered to various NPCs on Outposts, Seaposts and Large Islands. Cargo Crates need to be handled in a specific way to preserve their condition. If mishandled, the condition of these Crates will worsen, which also results in a smaller Gold payout from the Merchant Alliance. There are three types of Cargo Crates, which each have a regular and a Devil's Roar version (the Roar versions are even more fragile, but are worth twice as much as the regular versions):

  • Crate of Luxurious Cloth - These Crates of intricately woven Cloth require to be kept away from any sources of Water, or they will start rotting.
  • Crate of Rum Bottles - These Crates of fragile Rum Bottles need to be kept away from any sources of Damage, or they will develop cracks and eventually break.
  • Crate of Plants - These Crates of sensitive Plants have to be watered every now and then to stop them from wilting. This can be achieved by using a bucket to toss water on them or leaving them partially submerged in water.

Merchant Manifest

Main article: Merchant Manifest

Manifests are primarily found in the sunken wrecks of Merchant ships.


Main article: Commodities

Commodities are a type of treasure that can be bought from one Merchant Alliance Representative and sold to the Merchant Alliance at another Outpost. Purchase and sell prices will vary depending on the Outpost's demand for that commodity. This can be monitored in the Inventories book next to Senior Traders. Selling a commodity at an Outpost where it is sought-after will provide a higher than normal gold reward while selling a commodity when that Outpost is marked as surplus will provide a lower than normal gold reward.

  • Raw Sugar
  • Unprocessed Tea
  • Broken Stone
  • Unsorted Silks
  • Unrefined Spices
  • Unfiltered Minerals
  • Assorted Gemstones

Raid Treasures

Main article: Raid Treasures

Raid Treasures are final rewards for completing a company-specific Raid Voyage. For the Merchant Alliance, the rewards are the following:

The Hunter's Call Food and Plunder

The following items are valuable only to The Hunter's Call Trading Company, who are primarily found stationed on Seaposts.


The Hunter's Call specialise on purchasing meats and fish. These themselves can be consumed as food to replenish health, but sometimes they are more valuable when sold.


There are various species of fish all over The Sea of Thieves that can be fished with a Fishing Rod. Each species of Fish live in specific Locations and may be interested in a specific type of Bait. There are five variations of each species of fish, with varying rarities or conditions. The rarer the fish, the more Gold and Reputation they are worth. Larger Trophy variants of each fish are harder to catch, but are also worth more. Cooking any fish on a stove or a campfire increases their value (unless they become burnt, after which they are worth significantly less). Perfectly cooked fish fetch the most Gold and Reputation. Fish can sometimes be found in barrels in shipwrecks, Barrels of Plenty or Skeleton Ships.

There are 10 species of Fish:


The other food commodity that The Hunter's Call values is meat gathered from animals or monsters such as Megalodons or the Kraken. These meats cannot be sold raw and must be cooked at a stove or campfire. Meat can sometimes be found in barrels in shipwrecks, Barrels of Plenty or Skeleton Ships.

There are five types of meat:

Treacherous Plunder

Treacherous Plunder is a small group of miscellaneous items that can sometimes stick to the Fishing Rod rather than a fish biting. These only have a chance to show up when the Player attempts to fish without any Bait. The items themselves are only worth 10 Gold each and can only be sold to The Hunter's Call. Their main value is to acquire the Hunter of Treacherous Plunder Commendation.

Athena's Fortune Treasure

Main article: Athena's Treasure

Athena's Treasure Items are legendary valuables that can be sold to the Athena's Fortune Trading Company, which is represented by the Mysterious Stranger at every Tavern. These Items yield increased Reward and Reputation, as well as Emissary Value when sold to the Representatives as Athena's Fortune Emissaries. These Treasure Items are only found during Athena's Fortune Voyages, The Athena's Run Mercenary Voyages or Athena's Fortune Emissary Quests (With the exception of the Chest of Legends, which is guaranteed to be found in the Fort of the Damned (raid)).

Athena's Chests

Athena's Trade Goods

Athena's Skulls

Legendary Artefacts

Raid Treasures

Main article: Raid Treasures

Raid Treasures are final rewards for completing a company-specific Raid Voyage. For the Athena's Fortune Trading Company, the rewards are the following:

Bilge Rats Valuables

Main article: Bilge Rats Treasure

The following are Treasure Items that are valuable to the Bilge Rats Company. They are represented by Larinna, a woman who stands outside each Tavern. These Valuables are related to various Bilge Rat Adventures and are sold for Doubloons (and earn Commendations) instead of Gold. All of these items can also be sold to The Servant of the Flame at The Reaper's Hideout for Reaper's Bones Reputation and Emissary Value (When sailing as a Reaper's Bones Emissary).

Ritual Skulls

Ritual Skulls were initially one of the Dark Relics, but as they were retrieved, they became less valuable for the Order of Souls and are now only valuable to the Bilge Rats, who buy them from you for 10 Doubloons. These Skulls are tied to the Fort of the Damned Bilge Rat Adventures and are used in Rituals to start the Raid Encounter at the Fort. The Skulls can be found from Ashen Chests, Skeleton's Orders and Skeleton Ship Battles, or retrieved from Skull Stash Voyages.

Rag & Bone Crates

Rag & Bone Crates were mainly found and delivered during the Smuggler’s Fortune content update, delivered for the Bilge Rats to certain Seaposts for 5 Doubloons on time, or 2500 Gold if delivered late. Nowadays, they can be found mainly in Fortress Vaults, and do not have a deadline by which they need to be delivered.

Ashen Treasures

Ashen Treasures are treasures found by defeating special Skeleton Captains, called Ashen Key Masters and Ashen Guardians who drop Ashen Keys and Ashen Chests respectively. The Chests and Keys can be sold individually to the Bilge Rats for Doubloons (and Commendations), however when used in combination, the Chests reveal various Ashen Tomes, which are worth additional Doubloons and unlock various Cosmetic Items from the Ashen Dragon Set. The Chests may also reveal other Treasure Items, such as Artefacts, Pouches of Currencies or Ritual Skulls.

Reaper's Bones Treasure

While the Reaper's Bones accept any Treasures stolen from other Trading Companies, they also seek a few kinds of Treasure exclusive to their company.

Reaper's Chest and Bounty

The Reaper's Chest and Reaper's Bounty are large stone chests that can be found inside Shipwrecks, from Skeleton's Orders, and inside the Fort of the Damned vault. These chests emit a large pillar of light into the sky that can be spotted from great distances, and bear a Reaper's Mark on every Map Table to indicate their locations. The Reaper's Chest creates a red and green pillar of light and has a red mark on the map, whereas the Reaper's Bounty has a white-gold light pillar and a golden mark on the map. The Reaper's Chest sells for 25 Doubloons and the Reaper's Bounty sells for 10,000 Gold.


Gifts are small wrapped packages, the contents of which are a mystery. When they were introduced, Stitcher Jim requested that players deliver them to his beloved, the Masked Stranger. Nowadays, however, they are valuable to The Servant of the Flame, who is willing to pay Doubloons for them. Gifts can be found from Skeleton's Orders Maps, inside Fortress Vaults or on the shorelines of Islands and Forts.

Broken Emissary Flags

Broken Emissary Flags are the remains of Trading Company Emissary ships that have been sunk or scuttled. These Flags are highly valuable to the Reaper's Bones, who wish to see nothing more than the destruction of the Trading Companies and all of their Representatives. The higher the Emissary Grade of the ship when it sunk, the higher the gold payout when sold to The Servant of the Flame.

Miscellaneous Treasure

These are treasures that are not strictly tied to any Trading Company and can be sold to most Representatives.

Mermaid Gems

Main article: Mermaid Gems

Mermaid Gems are the cores of Cursed Mermaid Statues, which are valuable to essentially every Company apart from The Sea Dogs and Athena's Fortune. The Gems can be retrieved from destroying these Cursed Statues, or found separately all around The Sea of Thieves. Destroying Cursed Mermaid Statues and selling Mermaid Gems are also notable feats to the Bilge Rats, who offer Doubloon rewards for completing related Commendations that can unlock cosmetics for purchase.

Siren Gems

Main article: Siren Gems

Siren Gems are gems that are sold like Mermaid Gems, but they can only be obtained either by defeating Sirens and Ocean Crawlers, or by finding them inside Siren Shrines and Siren Treasuries.

Breath of the Sea

Main article: Breath of the Sea

Breath of the Sea is valuable to essentially every Company apart from The Sea Dogs and Athena's Fortune. They can only be found in a Siren Shrine or a Siren Treasury by collecting a Coral Message in a Bottle quest for that Shrine or Treasury.

Container Chests

Main article: Container Chests

Container Chests are various chests that can be opened and filled with up to three small treasures to simplify treasure transportation. The most common of these is the Treasure Chest. Most Container Chests can be sold to Trading Company Representatives for a handful of Gold, but no Reputation.

Box of Wondrous Secrets

The Box of Wondrous Secrets is a very rare treasure that can be randomly found on islands in The Devil's Roar. These Boxes can be sold to either Grace Morrow at Morrow's Peak Outpost or The Servant of the Flame at The Reaper's Hideout for ~25000 Gold.

Sea Dogs Treasure

The following treasures are valuable only to the Sea Dogs Company, a company that is no longer active. The Sea Dogs were responsible for the competitive Arena Game Mode at The Glorious Sea Dog Tavern.

Glorious Sea Dog Chests

Glorious Sea Dog Chests are exclusive to The Arena Game Mode and are currently the only type of treasure that is valuable to the Sea Dogs. These Chests act similarly to a Reaper's Chest in that they are always visible on the Map Table and are accompanied by a Purple Light Beacon. These Chests are dug up and sold for Silver, which is a special Currency that acts as a point counter for Arena matches. Sea Dog Chests do not reward players with Gold, nor Reputation (unless specific Commendations related to the chests are completed). Instead, players will earn increasing amounts of Gold and Reputation for placements in a single Arena match.

Patch history

  • 2.8.0 (March 16, 2023)
    • Seagulls will now circle over any Treasure left in the water.
  • 2.7.0 (November 22, 2022)
    • Scenarios where crews are stacking large amounts of treasure on board a ship or decorating an island now have optimised server performance, reducing latency, lag spikes, rubberbanding and server correction during gameplay.
  • 2.5.2 (May 12, 2022)
    • When players attempt to deliver treasure to an incorrect location, the supporting tooltips now clearly display the correct location.
  • 2.4.0 (December 2, 2021)
    • When trying to hand in Treasure not accepted by a particular Trading Company, players will now be redirected to the correct place to hand in the item.
  • 2.0.15 (May 27, 2020)
    • Added Ghost variants of Crates, Skulls, and Treasure Chests.
  • 1.4.4 (March 6, 2019)
    • Floating Treasure - Significantly increased time loot floats for at the water surface before it begins to sink.
  • 1.4.3 (February 6, 2019)
    • Floating Treasure - Significantly increased the speed that treasure floats to the surface after being released in deep water.
    • Treasure onboard a rowboat that is subsequently destroyed while on land can still be collected by players.
  • 1.4.0 (November 28, 2018)
    • Added Mermaid Gems.
    • Treasure Glint - Sunken or floating treasure will now glint to make it easier to spot.
    • Migrated treasure will now sink after the standard duration has expired.
  • 1.3.2 (October 31, 2018)
    • Floating treasure can now be collected after server migration.