The Captain of a ship in the South Seas is broke, but comes into posession of a gold dubloon. When he tries to spend it, it starts a rumour around the port that he has found a pirate treasure, leading to all sorts of people trying to steal the non-existent treasure. This is a poor version of the singing pirate film, that has a poor plot, dialogue, acting and singing. Only notable for being an example of mid 1930's colour films.