A group of kids in a small Oregon town are all about to move away because the rich families in town are going to tear down their houses, known as the "goondocks" to build a golf course. As mikey, the main boy, tries to think of a way to come up with the money to save their houses, all his friends and him rush up to the attic to check out his dad's museum collection. They find a doubloon and a real treasure map of the famous pirate, One-Eyed Willy. As the kids embark on the treasure hunt, they end up at a restaurant, where the treasure is supposed to be under, and have a run in with some criminals and a somewhat deformed, but good-natured strongman named Sloth. Trying to find the pirate-ship and its treasure, they encounter booby traps and near-death experiences along the way.