Wikia

Redeem Codes are earned by Pirates for various achievements - for example, finding a GM like Captain Cromwell or Shamus O'Malley, for winning a GM hosted race (like the Feats of Strength Competition) or even for successfully completing a game like Call of the Kraken. Codes are then exchanged in-game for a prize, such as gold or an item like a tattoo.

If you have a code, here's how to turn it into a prize:

Open a chat window by pressing [ENTER]
In chat, type /code, followed by your code as seen in the picture at the very bottom.

Make sure you enter your code in the same chat window you've typed /code. Insert a space between /code and your code. You must type /code for the code to work.

or

Press I to enter your Inventory.
Press Redeem Code at the bottom.
Finally, give the code a moment to be confirmed by the system before pressing any other keys.

After entering the code, you'll get a confirmation message in the chat window that reads Code Redeemed in green text. It's that simple. Items are added to your Inventory while gold is added automatically to your current gold amount.

Each code is unique and can only be used one time. POTCO tracks all redeemed codes. If you get a code from a friend and it doesn't work, it's probably because they have used it already!