Bobby, an imaginative eight-year-old boy living on a farm in an unspecified part of Nebraska, shares his world with his mother Glenna, father Karl, and grandfather. Bobby's boundless imagination often leads him into make-believe adventures, which sometimes result in him getting into trouble or being punished. Despite the friction, Bobby values his creative mind, even though he perceives it as a weakness. When a storm approaches one day, things take an extraordinary turn: Bobby's grandfather falls and breaks his arm, prompting his mother Glenna to take him to the hospital while his grandfather stays behind.
Amidst the storm, a strange phenomenon occurs—a "vortex in time" appears and swallows up a mysterious figure known as "Captain" Jezebel Jack, portrayed by Tim Curry. Jack, a flamboyant pirate who has been forced to walk the plank and sent into this vortex, finds himself awakening in a wheat field. It is there that he encounters Bobby, who quickly tends to his wounds, trying to comprehend this bizarre situation.
As Jack begins to adapt to the modern world—viewing a television for the first time—Bobby shares with him an old treasure map, which is written in a language Bobby’s grandfather had told him about. Jack immediately claims he can decipher the map, describing it as written in the "Adventurer's Code," a language he claims to speak fluently. Excited by the prospect of adventure, the duo sets out to find the buried treasure, which they locate under an old tool shed in the field. Their discovery signals the start of a thrilling quest that captivates them both.
However, their escapade does not remain secret for long. Soon after unearthing the treasure, another vortex opens, and Jezebel Jack’s mutinied crew, including characters like Dee Wallace, is sucked into the present. The crew, realizing there is treasure involved, swiftly attack Jack and Bobby, forcing both to defend themselves and their newfound prize. During the melee, Bobby, who has grown close to Jack during their adventure, is captured and held for ransom. Jack, under pressure, hands over what they believe is the treasure, and Bobby is released.
But the twist unfolds when the crew examines the treasure, which turns out to be a counterfeit—a pile of bricks covered in aluminum foil. This deception leaves everyone stunned, especially Jack, who quickly retreats to the murky waters from which he came. With Jack defeated and the crew teleported back to their own time, the realization hits that the treasure was a clever trick. Jack’s departure marks the end of this extraordinary adventure, leaving Bobby to reflect on what has been lost and gained in this bizarre journey.
Ultimately, the story highlights themes of imagination, bravery, and the allure of adventure, set against the backdrop of a seemingly quiet farm that, through the vortex in time, becomes the gateway to an unforgettable pirate escapade. The blending of childhood innocence with fantastical elements creates a story that is both charming and exciting, emphasizing how even the wildest imaginations can lead to extraordinary experiences.