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While learning to sail during a visit to his grandmother's at the Connecticut shore, eleven-year-old Tony becomes excited about the rumors of sunken treasure in the area and starts following a couple who seem to be making a mysterious search for something.

Sixth-grader Ben Pratt's life is full of changes that he does not like-his parents' separation and the plan to demolish his seaside school to build an amusement park-but when the school janitor gives him a tarnished coin with some old engravings and then dies.

With a key to the Oakes School in his possession, Benjamin, his friend Jill, and a new friend continue to seek ways to protect the school and their town but Lyman, the janitor and a spy, has new tricks up his sleeve.

As Benjamin Pratt and his friends Jill and Robert continue their efforts to save their school, they find themselves dodging two evil janitors, Lyman and Wally, but their team has also grown and now has a secret fund of millions of dollars.

Jen and Zeke see a disappearing ship in Poseidon's Triangle and investigate the mystery before the big sailing race.