This guide was created for the captain's trail update. (v.1367)

I wanted to include a brief walk-through for anyone trying to find all ten sunken chests. These are all located in the Puma region. Most of them are rather easy to find if you do a good job mapping the coastline. However one of the chests in the coral reef can be a little difficult to find. I recommend having the schooner, which makes charting everything possible.

I retroactively took these screenshots after getting the achievement. All of the chest icons will be grayed out in the images below. Most of the loot is okay, nothing too special for the late game. However, you can get a navy coat in the northern chest of the coral reef.

The third chest is at my dock in the east. Might be difficult to see.

You can't do local mapping for the sunken ship.

The chest is located at the bow of the wreck. It's the section with the mast peeking out of the water.