First off you need to open the sea of thieves and select "Maiden Voyage"

do the tutorial up to getting the cutlass

Turn around and go up the hill to the wrecked ship

Go up to where the mast is then jump to where the waterfall starts

Jump in the pond and pick up the key near the waterfall

Jump down the waterfall (you shouldn't take too much fall damage) and go to the hatch near the half of the ship you started at. use the key to open the hatch and your loot should be there if you haven't taken it yet like I have.

Now you have gold and dubloons don't go spend it all in one place or do i really don't care. if this guide helped you out please rate and favorite.