During a romantic moment in the attic, Gomez and Morticia discover the sea chest of Peg Leg Addams, a pirate ancestor of the family, and decide to take the family on a trip to look for it. Unfortunately, the crew the family hires are interested in stealing the family valuables... which naturally doesn't go according to plan.
This episode includes examples of the following tropes:
- Agony of the Feet: Gomez accidentally hurts both of Uncle Fester's feet during the treasure hunt.
- Having a Heart: When the hired crew express disbelief at Cousin Itt being the lookout, Gomez tells them that Cousin Itt has an eagle eye. Morticia adds that he has some of his own as well.
- Nice Job Fixing It, Villain: The crew the family hires try to rob the safe so they can find the treasure themselves. All they accomplish is scaring themselves silly. While checking to make sure the burglars didn't steal anything, the Addamses find Peg Leg's code book, which helps them find the treasure right under their mansion. Morticia outright says that they were lucky the sailors tried to rob them, or they'd be off on a wild goose chase.
- Not Now, Kiddo: Captain Grimsby forces Uncle Fester to tell them the combination of the safe. Midway through, Fester tries to mention something they don't know about the safe. Grimsby demands just the combination. A few minutes later, the safe explodes when they try to open it, which is presumably what Fester meant.
- Only in It for the Money: Uncle Fester is interested in the proposed trip because it will allow them to find treasure. Morticia insists that the adventure and fun is more important. However, when it turns out the treasure isn't real gold (but is edible), Fester decides he doesn't mind.
- "Shaggy Dog" Story: The family engages on a lot of preparations to find the lost treasure of a pirate ancestor, including hiring a boat (the crew of which instead attempt to burgle the mansion), before finding out that the treasure isn't buried at sea, but under the mansion itself. The treasure also turns out to be fake gold.
- Shout-Out: When Gomez uses a cigar to plug a hole in the roof, he tells Morticia that the Little Dutch Boy could have avoided getting his thumb wet if only he had had one.
- Tasty Gold: Fester bites into a gold coin to test if it's real. It's not. He doesn't mind, though.
