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I agree that the quickest way to earn gold is plundering the seas, but I would add a tip. Bartholomew Watkins (guy crouched behind a barrell in Port Royal) gives out quests for items plundered from ships. So if you are looking for gold on the seas, you might as well pick up the extra gold on Bartholomew's quest for what you are already doing anyway. See the posts on "miniquests" on the forum for more info.
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