Rare Thief

Trading Company Emissaries

Sea of Thieves

Trading Company Emissaries

updated as needed

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Captain Flameheart’s looming presence is taking its toll. As fear and paranoia creep across the seas, a hush has fallen over the once bustling Outposts.

Desperate and undaunted, the Outpost Trading Companies have devised a plan to rebuild their trader’s confidence. They’ve established an Emissary service.

The Outpost Trading Companies are calling on the bravest pirates to serve and represent their companies.

Why would I want to Represent the Trading Companies?

For those who laugh in the face of danger and agree to help the Trading Companies prosper, the representatives of each Trading Company will provide handsome rewards—in both gold and glory!


While serving as a Trading Company’s emissary, that Trading Company will compensate you for your efforts. Aye, there are several ways to earn more gold while representing a Trading Company. We’ll delve into each below!


Trading Company Reputation

You will also earn the Trading Company’s respect and gratitude. The Trading Companies are offering more room for advancement in their newly expanded reputation system.

Within the Gold Hoarders, Order of Souls, and Merchant Alliance, pirates can now climb the ranks through an additional 25 levels—maxing out at Rank 75.

Athena’s Fortune has also offered greater room for distinction with an additional 10 levels—maxing out at Rank 20.

Even us Pirate Legends will once again receive that hearty gratification that only comes from seeing that reputation climb.

As ever, your reputation is tied to the gold you earn. Thus, your reputation will increase more quickly within the Trading Companies you represent as an Emissary.

Raised Trading Company Ranks

Emissary Grades

Ah! Separate from your Trading Company Reputation, this is an entirely new way to prove—and be compensated for—your loyalty.

As we worked to describe the Emissary Grade and answer questions we thought likely to arise, we realized that we needed to separate this discussion into its own separate article.

So, while we mention Emissary Grades in this article, we explore Emissary Grades in full over here: How to Raise Your Emissary Grade.

Merchant Alliance Emissary Grade

If you are more of a learn from watching kind of pirate, you can get caught up on everything you need to know about Emissary Grades in the video below!

YouTube video

Fame with your Fortune

The Trading Companies will be documenting pirates’ deeds in their service. Periodically, they will announce which pirates were their most valuable Emissaries.

This is a chance for your name to ring out across the seas!

Unlike anything we’ve yet experienced on the Sea of Thieves, we feel the Emissary Ledger deserves an entire article unto itself: Trading Company Emissary Ledgers.

View Top Emissaries

Show Your True Colors

Ah, let’s say you come across a pirate who has not heard tell of your valor. Aye, some pirates just don’t listen so well.

Never you mind. There are other ways to command respect on sight.

The Trading Companies are prepared to offer visible manifestations of your bravery and prowess.

Whether by advancing through a Trading Company’s expanded levels, unlocking their newly added commendations, or by securing an impressive standing on the new leader boards, you’ll be able to deck your pirate and your ship in the trappings of your achievements.

Go on. Strut, you beautiful Peacock! Strut!

Gold Hoarder Emissary Cosmetics

What is an Emissary?

The Trading Companies of the Sea of Thieves are looking for worthy pirates to serve and represent their company with pride!

Serving as an Emissary

If you so choose to be an Emissary for one of the Trading Companies, you can still go about your life on the seas in any manner you choose.

However, to make the most of your time as an Emissary, you’ll likely want to prioritize that Trading Company’s quests and treasures.

Prioritizing the Trading Company’s Quests

Trading Companies will reward their Emissaries in an increased Emissary Grade for completing actions specific to that Trading Company.

For example, let’s pretend you decide to represent the Gold Hoarders. You would be rewarded for acts in their service—such as completing x-marks-the-spot or riddle quests.

Of course, you might receive such quests from a random message in a bottle, an Athena’s Voyage, or even perhaps a Bilge Rat Adventure.

However, if you want to maximize your progress, you’ll likely want to throw down some Gold Hoarder Voyages.

There’s much more to know about increasing your Emissary Grade. So, we’ve covered it here: How to Raise Your Emissary Grade.

Hunting Gold Hoarder Treasure

Prioritizing the Trading Company’s Treasures

Trading Companies will reward their Emissaries in far more gold and reputation than usual for any treasures returned to that Trading Company.

Of course, it’s best to turn in all the treasure you stumble upon, but there are times you might want to pick and choose.

Perhaps you sneak onto another ship. If stealing all of their treasure isn’t an option, you might want to prioritize the treasures that will fetch the most with your Trading Company.

Perhaps you decide to play nice with another crew at an active Skull Fort. If you’re representing different Trading Companies, splitting the loot might be a bit easier.

Emissary Grade Multiplier

Representing the Trading Company

Don’t be shy! The Trading Companies are looking for pirates who will display their allegiance with pride.

To that end, as an Emissary your ship will fly an Emissary Flag for that Trading Company, as well as an Emissary Ribbon from the central mast. These will announce to the seas which Trading Company you currently represent.

While not necessary, the Trading Companies also hope you’ll find it worthwhile to clothe your pirate in the Trading Company’s distinctive attire.

You now have a basic idea of what it means to be a Trading Company Emissary.

There’s more to know about these flags and garments—and we will address them each below. However, that knowledge is of little use until you know the following: how do you become an Emissary?

Trading Companies

How to Become an Emissary

Attain Emissary Eligibility

Ah! Not every pirate will be eligible to serve as an Emissary. After all, the Trading Companies don’t exactly want to be represented by a pirate just learning to raise their anchor.

Only one member of the crew needs to have this eligibility. So, you can team up with higher level pirates, until you’ve earned the eligibility yourself.

New Pirate

Luckily, if you and your crew are just starting out, it won’t take much to prove your mettle. The Gold Hoarders, the Order of Souls, and the Merchant Alliance only require you to be at least Rank 15 within their company before they’ll allow you to join their Emissaries.

For the Athena’s Fortune Trading Company, you must be a Pirate Legend to raise their flag atop your ship. However, they require no higher rank within Athena’s Fortune to do so.

Yo Ho Ho! There is one Trading Company that will gladly conscript any and all pirates into their evil enterprise: The Reaper’s Bones!

In addition to these eligibility requirements, you must be willing to part with a bit of coin…

Reaper's Bones on The Reaper's Hideout

Purchase the Emissary Flag

Each Trading Company has an Emissary Flag. To represent a Trading Company you must fly their Emissary Flag. To fly such a flag, you must buy such a flag.

Aye, the adage holds in the pirate world, too: ye must spend gold to make gold. Savvy?

For the Outpost Trading Companies—Gold Hoarders, Order of Souls, Merchant Alliance, and Athena’s Fortune—visit one of their representatives on any Outpost to purchase this Emissary Flag.

You can purchase the Reaper’s Bones Emissary Flag from the representative on The Reaper’s Hideout.

These Emissary Flags will cost you 20,000 Gold Coins—but that’s nothing you can’t make back in a Fort.

Besides, you only need to purchase the Emissary Flag once. After your initial purchase, you can choose to represent that Trading Company for the rest of your pirate career!

Purchase Gold Hoarders Emissary Flag

Visit the Emissary Tables

Upon visiting each Trading Company Representative you will now see a nearby Emissary Table.

You’ll find the Gold Hoarder Emissary Table next to their tent, the Order of Souls Emissary Table enclosed in their quarters, the Merchant Alliance Emissary Table on the dock in front of their stand, and the Athena’s Fortune Emissary Table next to the Mysterious Stranger in any tavern.

Although the Reaper’s Bones do not have Outpost representatives, they do have Outpost Emissary Tables. You will also find an Emissary Table next to the Reaper’s Bones representative on The Reaper’s Hideout.

Emissary Table

The Little Wooden Boats

If it’s not already obvious by virtue of the Emissary Flags, the Trading Companies are not looking for a quiet, unseen force. No! The Trading Companies want to boast of their might on the seas!

As such, each Emissary Table shows how many ships on the sea are sailing under their Trading Company’s Emissary Flag. Each ship is represented by a tiny wooden boat.

If you’re not sure which Trading Company you’d like to join, you might take a quick look at each Emissary Table before making your decision.

If you and your crew feel like finding an alliance, you might join a Trading Company that already has a few wooden boats set out. Hopefully, you’ll find them out on the seas.

If you and your crew feel like you might want plenty of PvP prey, you might ensure the other Trading Companies have a few boats before joining The Reaper’s Bones.

Order of Souls Emissary Table

Vote at the Emissary Tables

Once you’ve decided which Trading Company you’d like to join, you and your crew can vote to become an Emissary for that Trading Company.

Simply approach the Trading Company’s Emissary Table, and a prompt should appear.

Note: similar to equipping your sails with the Shipwright, your ship must be near The Reaper’s Hideout or the Outpost to successfully cast your vote.

You also cannot be representing another Trading Company, when you try to vote. One at a time, me hearties.

Represent the Gold Hoarders

What Happens After We Vote?

First, you should notice a little wooden boat added to the Emissary Table; that’s you!

Next, if you turn to look at your ship, you’ll notice that the Trading Company has already hoisted your Emissary Flag. How kind of them.

If you choose to become an Emissary for The Reaper’s Bones, something else will occur upon casting your vote. Your ship—and your Emissary Grade—will appear on every ship’s map throughout the seas!

Reaper's Bones on map table

Trading Company Costumes

Before you set sail as an Emissary, you might want to dress the part.

We got our first taste of Costumes in the Sea of Thieves thanks to the Pirate Lord and his Athena’s Run Voyage.

The Trading Companies have now expanded upon this idea. Each Trading Company has designed a costume to make you look and feel like one of their own.

Each Trading Company’s costume is only available to purchase after buying the Emissary Flag for that Trading Company.

It is not necessary to wear these costumes every time you serve as an Emissary. Though, feel free to do so…

However, there are certain commendations for which it will be necessary to don your Trading Company costume whilst you sail under that Emissary Flag.

Order of Souls Emissary Cosmetics

Emissary Grade 5

Aye, detailing how to increase your Emissary Grade is beyond the scope of this article. Instead, we’ve given that topic an article all to itself: How to Raise Your Emissary Grade.

However, it is worth mentioning a reason you might want to reach Grade 5—or target ships flying Grade 5 flags.

Emissary Voyage

Emissary Quests

Reaching Emissary Grade 5 with Gold Hoarders, Order of Souls, Merchant Alliance, or Athena’s Fortune will unlock access to a high-reward Emissary Quest from that Trading Company.

How do I receive my Emissary Quest?

Visit any representative for the Trading Company in which you’ve achieved Emissary Grade 5. Upon approaching the representative, you’ll see the option to claim your Emissary Quest.

After you claim it, the Emissary Quest will appear in your Map Radial.

What is the Emissary Quest?

As you might imagine, the Emissary Quest is different for each Trading Company.

The Gold Hoarder Emissary Quest

The Gold Hoarders Emissary Quest will grant you four x-marks-the-spot quests. You’ll unearth several Captain’s Chests at each!

The Order of Souls Emissary Quest

The Order of Souls Emissary Quest consists of four Bounty quests. For each Bounty quest, there will be four Skeleton Captains—each with a Villainous Skull.

The Merchant Alliance Emissary Quest

The Merchant Alliance Emissary Quest will grant you one Cargo Run quest. Only one? Aye, but that’s the beauty. You’ll be able to turn in 25 Cargo Crates in one go!

The Athena’s Fortune Emissary Quest

The Athena’s Fortune Emissary Quest is a condensed Athena’s Fortune Voyage with three quests: a riddle quest, a X Marks the Spot quest and a Order of Souls Skeleton Bounty quest. The treasure you find in these Athena quests will include the Ancient Fortune treasure debuted in the Athena’s Run Voyage!

Not only are these treasures highly valuable, they will help you rank up in the Athena’s Fortune Trading Company.

Emissary Treasure

The Reaper’s Bones Grade 5 Reward

The Reaper’s Bones do not have an Emissary Quest.

Instead, upon reaching Grade 5, your crew unlocks the ability to see every Emissary Ship at sea on your ship’s map table.

Reaper's Bones Emissary Grade 5

The Importance of Your Emissary Flag

Your Emissary Flag is highly valuable to you and to anyone who might capture it!

You are only an Emissary so long as your Emissary Flag is raised. Your Emissary Flag can come down in one of two ways.

Voting to Lower your Emissary Flag

Ideally, you’ll return to the Emissary Table victorious in your exploits, and your crew will vote to lower your Emissary Flag.

When you vote to lower your Emissary Flag, you will automatically cash it in with the Trading Company. Your level of compensation will be commensurate with the Grade you achieved during your time as their Emissary.

Vote to lower Emissary Flag

Losing Your Ship

If your ship is sunk, your Emissary Flag will break off your ship, and float to the surface.

You will no longer be an Emissary.

This means you will need to return to an Emissary Table and vote to become an Emissary again. It also means your Emissary Grade will restart at zero.

If you recover your Emissary Flag, you can still cash it in with the Reaper’s Bones, but you will only receive a small fraction of the gold and reputation you might have otherwise received.

Worse, separated from your ship, your broken Emissary Flag can now be stolen! Reaper’s Bones Emissaries are promised handsome rewards for any stolen Emissary Flags they can return to the Reaper’s Hideout.

Sell Emissary Flag


While you can still expect loot turned in from an Alliance crew to grant you some gold, Alliances cannot help you level up your Emissary Grade. Your Emissary Grade will only go up based on actions from yourself and your crew members.

Handing in an Emissary Flag will also only grant gold and reputation to your crew and not to your Alliance.

Emissary Flags

How to raise your Emissary Grade?

As we have mentioned before, raising your Emissary grade is all about actions performed related to the Trading Company you are representing.

Each Trading Company has its own actions they would like you to preform. So, we have a full detailed guide on how best to raise your Emissary Grade here: How to Raise Your Emissary Grade.

Ships of Fortune

How to climb the Emissary Ledgers?

If reading about fame earlier put butterflies in your stomach, you’ll want to explore our Emissary Ledgers article. You’ll need all the help you can get if you are going to compete with all those other fame thirsty pirates sailing the Sea of Thieves!

To the Tavern!

Aye, we pirates do love a good tavern. ‘Tis a place to share our findings and adventures. ‘Tis a place to clap each other on the back. ‘Tis a place to glean further insight.

Happily, we’ve found proverbial taverns on several social outposts—each bustling with a vibrant pirate community! Want to join in the merriment? Ye will always find a hearty welcome at our table!

Follow Along

To the Tavern!

Aye, we pirates do love a good tavern. ‘Tis a place to share our findings and adventures. ‘Tis a place to clap each other on the back. ‘Tis a place to glean further insight.

Happily, we’ve found proverbial taverns on several social outposts—each bustling with a vibrant pirate community! Want to join in the merriment? Ye will always find a hearty welcome at our table!

Want to keep a weather eye out?

Jot down yer email, and we’ll be sure to let ye know when there’s something new on the horizon.

7 thoughts on “Sea of Thieves: Trading Company Emissaries”

  1. How exactly do you cash in your flag after the ship sinks? I’ve been looking everywhere and couldn’t find the option

    1. Amir Abdollahi

      If you are able to retrieve your flag after you sink, you can sell it to the Servant of the Flame on The Reaper’s Hideout. You won’t get much for it though. Much more profitable to lower your Emissary Flag or sell another crew’s flag.

    2. At reapers hideout to stranger in the tent. However you do not earn fame or fortune for cashing in your own sunken ships flag.

  2. When we were grade 5 athena’s fortune esmisarry we got the special voyage we got 3 different islands and then we didn tge tthe next chapter where we get the chest of legend

    1. You will have. It goes straight into your voyage wheel. Is always an island with 2 X marks the spots on. One is an Athena chest, the other is a legendary black powder keg.

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