Old Sailor’s Key

The Old Sailor's Key is a hidden Key type Quest Item found at Old Sailor’s Isle during the Maiden Voyage in Sea of Thieves.

Mechanics
According to one of the Pirate Lord's Journals at Old Sailor’s Isle, he lost the key to his Hold by a freshwater pond.

Once players have located the Key in the pond, they can pick it up and use it to open the secret Hold itself, located under the shipwreck of the Magpie's Fortune.

The secret Hold hides the Lord's final Journal, 3 chests worth 25,000 Gold and a pouch of 200 Doubloons.

Pirate Chat Wheel
Here is the Pirate Chat Wheel for the Old Sailor's Key:

Llave de viejo marino