As every pirate knows, earning gold is always the plan. However, Season Five introduces a batch of new features to distract pirates from following this plan and becoming wealthy. So while sitting, rolling dice, and setting off Fireworks are all good fun, don’t forget to raise an Emissary Flag as you sail the sea!
Not only will you earn extra gold for the loot you sell, but you can also earn Emissary exclusive cosmetics! You see, the Trading Companies have introduced another batch of Trading Company cosmetics to entice pirates to represent them during their adventures.
You can only earn these rewards by sailing as an Emissary and raising your Emissary Value high enough in the Emissary Ledger to unlock them.
If this is your first Season sailing the Sea of Thieves, you’ll want to get acquainted with the Trading Companies and how representing them will not only earn you more gold but unique cosmetics!
You can find more about the Trading Company Emissaries through our guide here. We’ll go over what being an Emissary means, how to get started, and how to earn the most gold from sailing as one.
How to earn Season Five Emissary Ledger rewards
As soon as December 1st rolls around and the Emissary Ledger resets, you will be able to earn the Season Five Emissary Ledger Rewards. That is if you have already unlocked the previous Emissary Ledger rewards. You will need to have earned them before you can start working on the new rewards.
Even though new rewards are now available, that doesn’t mean the previous ones have vanished. The current rewards will not disappear with the arrival of the Season Five rewards. Instead, new rewards will be queued up behind any current unearned rewards. You’ll be under no time pressure to earn everything before new cosmetics and Titles get introduced.
Progressing on to the next reward is Tier-based. Therefore, you don’t have to finish in the Top Tier of a Ledger period to have the subsequent rewards in the queue be available to you.
If you finish in the Second Tier and earn the Second and Third Tier rewards, you’ll have new Second and Third Tier rewards to work towards during the subsequent Ledger period. However, the original Top Tier reward will still be there as the reward to be earned.
As we mentioned, if this is your first experience with the Emissary Ledgers and Emissary Value, you’ll want to head over to our Emissary Trading Company guide here.

What are the Season Five Emissary Ledger rewards?
All five of the Trading Companies that offer an Emissary License have new Emissary Ledger rewards ready to be earned. Remember, you must earn the first two available Emissary Ledger rewards before you can earn the third.
You will find new Titles and Weapon cosmetics for most Trading Companies, while Athena’s Fortune offers unique Ship cosmetics.
Reaper's Bones
The Season Five rewards for the top three Reaper’s Bones Emissary Tiers are as follows:
- Third Tier: Servant of Masked Mystique Title
- Second Tier: Masked Renegade Pistol
- Top Tier: Masked Renegade Cutlass
When do you unlock the Season Five Emissary Ledger rewards?
Trading Companies will distribute the Emissary Ledger rewards shortly after the monthly Ledger closes.
It can take up to 72 hours for the cosmetics to show up in your Ship Customization and Weapon Box.
With your expected rewards in sight, it’s time to hit the Sea of Thieves! Choose the Trading Company you wish to represent and starting raising that Emissary Grade. The higher the Emissary Grade, the faster you will climb the Emissary Ledger and unlock those rewards!