Sea of Thieves Wiki
Gold Hoarders
Gold Hoarders.png
Type Trading Company
Location Outposts
Disambig.png This article is about the Trading Company. For the Skeleton Lord, see The Gold Hoarder.
Your Success Brings Us Fortune
— Gold Hoarders' motto
Gold Hoarders icon.png

The Gold Hoarders are one of the major Trading Companies in Sea of Thieves. They are a gold-loving, greedy company with the interest of amassing great hoards of Gold. There is a Gold Hoarder representative on every Outpost in The Sea of Thieves, distinguishable by their green and gold tents. Gold Hoarders will accept any locked Treasure Chests and Artefacts for Gold and Reputation with the company. Player Pirates can climb up to 75 Reputation Ranks with the Gold Hoarders by performing various deeds for the Company.


The Gold Hoarders is a company of treasure hunters founded by Rathbone, a former friend of the Pirate Lord, now known as the Gold Hoarder or the First Gold Hoarder. He was the greediest, gold-loving treasure hunter in all of the Sea of Thieves, and even died collecting gold from the ocean floor. He amassed a huge fortune in an unknown cave, and he returned to the Sea of Thieves as a skeleton. He stole the keys that open all chests from Ramsey Singh, the Pirate Lord. The chests are not able to be opened due to the fact that captain Ramsey sealed every chest with metal made from cursed chains that were used to tie up Old Mother, the first Kraken.

In Captain Flameheart's journal, Flameheart writes:

"One such character apparently unknown even to my father is the Gold Hoarder, a particularly terrifying Skeleton Lord whose name surely ties him to the Trading Company I met, oh, so many lifetimes ago. This man's skeleton was supposedly reclaimed by his spirit after death, driven by greed to the extent that he patches up his immortal frame with jewels and gold."

After he passed away, the Gold Hoarder’s Skeleton Keys were divided between his followers and they set up shop on the outposts scattered throughout the Sea of Thieves.

However, rumors and whispers say that anyone that joins the Gold Hoarders company will fall under the "Curse of the Gold Hoarder", becoming as greedy and gold-obsessed as the First Gold Hoarder. Not only that, many have noticed that patches of their skin or their eyes have turned into gold. Some believe that contagiously using the magic Skeleton Keys and handling cursed gold or cursed treasure chests may have cursed these men and the only way to slow down the curse is by hoarding more and more gold or they themselves will turn into gold.


The following is a list of all the Gold Hoarder Representatives at each Outpost.

Offered Services[]

The following services are offered by the Gold Hoarder tents at every Outpost:


Gold Hoarder Representatives provide Treasure Map Voyages and Wayfinder Voyages of increasing difficulty and value. These Voyages send Player Crews on a search for Gold Hoarders Treasure, located by various types of Maps. Players can have up to 3 Gold Hoarder Voyages in their Voyage Inventory and put them up for a vote at the Voyage Table. The Voyages are counted complete as soon as all of the Maps are solved.

Players can also buy Ashen versions of Gold Hoarders Voyages from the Representatives at Morrow's Peak Outpost. These Voyages take players on islands throughout The Devil's Roar, where they can dig up Ashen Treasure Chests and Trinkets, which fetch a higher price.

Reputation, Promotions & Rewards[]


Hoarder Rep Logo.png

Gold Hoarders Reputation is used to level up and earn higher Promotion Ranks with the Trading Company. Gold Hoarders Reputation is earned every time a relevant Treasure Item is sold to the Hoarders in their tents at Outposts (Crew-wide). Each Treasure item is worth a set amount of Reputation, which is separate from the item's Gold or Emissary Value. Players can also earn Reputation with the Hoarders by completing Commendations for the Company (Individual) or lowering a higher than Emissary Grade II Gold Hoarders Emissary Flag at the Gold Hoarders Emissary Table (Crew-wide). Crews representing the Gold Hoarders as an Emissary will get increased Reputation gains the higher the Emissary Grade of their Ship. The Gold Hoarders Company has 75 Reputation Ranks in total.

Players who progress through the Gold Hoarders Reputation Ranks can also unlock the Royal Sovereign Set Items for purchase at Outpost Shops.


The following is a table of all the Gold Hoarders Promotions and the Items that are unlocked for purchase after achieving them:

Rank Promotion Name Cost Item Unlocked Cost Voyage Cost
5 Gold Picaroon 100 Gold.png Measly Hoarder Shovel 700 Gold.png 20 Gold.png
10 Gold Bucko 200 Gold.png Lowly Hoarder Compass 700 Gold.png 40 Gold.png
15 Gold Swabbie 300 Gold.png

Notable Hoarder Shovel
Gold Hoarders Emissary Flag
Gold Hoarders Costume

1,400 Gold.png
20,000 Gold.png
68,300 Gold.png

60 Gold.png
20 Gold Hauler 400 Gold.png Prominent Hoarder Compass 1,400 Gold.png 80 Gold.png
25 Gold Buccaneer 500 Gold.png Renowned Hoarder Shovel 2,100 Gold.png 100 Gold.png
30 Gold Seadog 600 Gold.png Famed Hoarder Compass 2,100 Gold.png 120 Gold.png
35 Gold Magnate 700 Gold.png Esteemed Hoarder Shovel 2,800 Gold.png 140 Gold.png
40 Gold Captain 800 Gold.png Revered Hoarder Compass 2,800 Gold.png 160 Gold.png
45 Gold Sovereign 900 Gold.png Notorious Hoarder Shovel 3,500 Gold.png 180 Gold.png
50 Master Gold Hoarder 1,000 Gold.png Legendary Hoarder Compass 3,500 Gold.png 200 Gold.png
55 Glittering Gold Hoarder 17,450 Gold.png Gold Hoarders Capstan 69,550 Gold.png
60 Gleaming Gold Hoarder 21,400 Gold.png Gold Hoarders Cannons 69,550 Gold.png
65 Shining Gold Hoarder 25,350 Gold.png Gold Hoarders Wheel 69,550 Gold.png
70 Radiant Gold Hoarder 29,300 Gold.png

Gold Hoarders Hull
Gold Hoarders Flag

69,550 Gold.png
2,500 Gold.png

75 Lustrous Gold Hoarder 33,250 Gold.png

Gold Hoarders Figurehead
Gold Hoarders Sails

69,550 Gold.png
69,550 Gold.png

Gold Hoarders Emissaries[]

Any players wishing to represent the Gold Hoarders on the open seas can do so by becoming a Gold Hoarders Emissary. To hoist a Gold Hoarders Emissary Flag, Players must first purchase it from any Company Representative for 20000 Gold once they have achieved the level 15 Rank of Gold Swabbie. Player Crews can vote to raise a Company Emissary Flag at the Company's Emissary Table. Gold Hoarders Emissary Tables can be found next to every Gold Hoarders tent at Outposts. Once voted upon, the Crew's Ship will receive two Company themed Flags on their Ships to designate their Emissary status: a big Flag on the back of the ship and a Pennant on top of the Crow's Nest. These Flags will signify the Emissary Ship's current Emissary Grade and will change as the Crew progresses through the Grades. Gold Hoarder Emissary Flags are Yellow and will play a distinct tune when viewed from a Spyglass by other Crews. When an Emissary Ship sinks or is scuttled, the Emissary Flag will be lost along with any earned Grade progress. The Broken Emissary Flags that float up from the sunk ship can be sold to The Servant of the Flame at The Reaper's Hideout. When Crews vote to lower their own Emissary Flag, they earn large sums of Gold and Reputation with the Emissary Company (only after Grade 2).

Emissary Grades[]

The Emissary Grade icon of the Gold Hoarders.

Every Gold Hoarders Emissary will start out at Emissary Grade I and be able to progress up to Grade V. These Grades are displayed on the Ship's Emissary Flags. Players can also check their Emissary Grade progress by using the Equipment Radial Menu or opening up their Reputation tab at the Pirate Menu.

When reaching Grade V, Gold Hoarder Emissaries are eligible to claim a special Gold Hoarders Emissary Quest from any of the Gold Hoarders Representatives.

With each Emissary Grade, players will receive greater Rewards, Gold Hoarders Reputation and Emissary Value for any sold Treasure Chests, Artefacts or Mermaid Gems. Note that Players do not get Emissary Grade Reputation from selling Items to the company. The following is a chart of the reward and value multiplier of Emissary Grades:

Emissary Grade Rewards, Reputation & Emissary Value
Grade 1 Base Reward
Grade 2 +33% Base Reward
Grade 3 +67% Base Reward
Grade 4 +100% Base Reward
Grade 5 +150% Base Reward

Emissary Reputation[]

Gold Hoarders Emissaries can gain Emissary Reputation and progress through Emissary Grades in the following ways:

Things that do not give Emissary Grade Reputation for Gold Hoarders:

Emissary Quest[]

Once Crews have reached Emissary Grade V when sailing as a Gold Hoarders Emissary, they will be eligible for a Gold Hoarders Emissary Quest. Only one Quest can be claimed per Crew per Emissary Run. This means that if players want to receive more Emissary Quests, they will have to reset their Emissary progress and work their way back up to Grade V again.

The Gold Hoarders Emissary Quest gives all Players of the Crew four X Marks the Spot Maps with 5 X's each uncovering Captain’s Chests. Players can easily work their way back up to Emissary Grade V with the Quest alone if they decide to turn in their previous Grade V flag to the Company and start over from Grade I. Once back at Grade V, the crews can claim another Emissary Quest and repeat the process.

Emissary Value & Ledger[]

Gold Hoarders Emissary Value is earned every time a Crew sells a Treasure item to any Hoarder Representatives while flying a Gold Hoarders Emissary Flag. Each Treasure Chest, Artefact and Mermaid Gem has a set base Emissary Value. Crews get increased Emissary Value the higher the Grade of their Emissary Flag. When selling Treasure as a Grade V Emissary, the Emissary Value is doubled (see above chart for the multipliers). Emissary Value acts as a Player Pirate's individual scoreboard with a Trading Company.

A player's Emissary Value is counted in their Emissary Ledger, which divides all of the Company's Emissaries into four Ranks based on their total Emissary Value. Each Emissary Rank accounts for a percentage of the Company's total Emissary Value holders. A single Emissary Ledger scoreboard remains active for one month, after which it will be closed and reset. At the close of a Ledger, every Player Pirate to place in the first or second top tier will be rewarded with exclusive Company Sails.

The Gold Hoarders Emissary Ranks are as follows:

  • Tier 1 (bottom 25%) - Castaway | No Reward
  • Tier 2 (bottom 25-50%) - Seafarer | Rewards the Emissary of Gold Seafarers Title at the close of a Ledger
  • Tier 3 (top 50-25%) - Marauder | Rewards the Gold Hoarders Marauder Sails and the Emissary of Gold Marauders Title at the close of a Ledger
  • Tier 4 (top 25%) - Golden Captain | Rewards the Gold Hoarders Golden Captain Sails and the Captain of Golden Emissaries Title at the close of a Ledger


The following Commendations are achievable for the Gold Hoarders. The majority of these Commendations unlock same named Titles for the Players to show off.

Gold Hoarders Emissary Commendations:

Wayfinder Voyage Commendations:


  • The ambient music of the Gold Hoarders uses adventurous French Horns, akin to some deep raspy Brass, to add to the slinky and greedy antics of their sleuthful members.
  • Every Gold Hoarder's name starts with an H.

Patch History[]

  • Hoarders' posture changed from hunched and rubbing their hands to standing up straight and showing off their keys.
  • Gold Hoarder Ranks were increased from level 50 to 75, aside with the introduction of the Emissary system.