Pierced Jim, the invincible pirate, liked to loot sloops belonging to Her Majesty's fleet. When his estate in Ireland was confiscated by British crown, he embarked on a mission to destroy the royal fleet and recover his possessions. His crew consisted of outcasts freed from slave ships, who were generously awarded for their service. After amassing a big fortune, Pierced Jim moved to Panama and set up a pirate colony in Puerto Armuellas. According to legend, the chain of his anchor was made from gold, and he wore the gold chain whenever he went to battle to signify his noble ancestry.