Treasure of the Ghost Pirate.

As you arrive in Oakvale, head down to the beach to the south of the map. Follow the coast away from the pier and you'll come across a grieving woman, looking out over the sea, still searching for her long lost husband. She'll explain

I often stand out here and look out to sea, my dear husband was lost to the waters years ago. He went on a fishing expedition and never came back. I haven't given up hope of seeing him again, one day.

Head back up to the center of the village, follow the path up hill that runs between the tavern and the blacksmith. Turning right as you past the cottage, there is a vendor looking for some help.

Oh a Hero, I could really use your help sir, I run a harmless little chicken contest down on the beach but Im having a bit of ghost trouble, some deceased chicken fancier no doubt. The thing is he's scaring all my punters away. You couldn't, you know, work some of your hero magic and get rid of him could ya?

Go down the path past the vendor, until you reach the Kicking Chicken stand. Directly head below a chicken banner you'll see a ghost, trying to get your attention.

Arrgh hahahahaaa, At long last, a kind soul that doesnt flee at the sight of me. I have paced this forsaken beach for so many years, could it be, that you be sent by the gods to lift me from my fierce torment.

Requesting your help you can chose to Help the ghost?
Chosing no will end the mission but you can choose to do it later on by speaking to the ghost again.
However choosing yes the pirate will accept the quest - Treasure of the Ghost Pirate

My spirit dwells at the bottom of the sea Arrgh, And my poor wife is left to destitute and a grieving Arrgh. She thinks I was but a simple fisherman and stil be somewhere lost at sea. It may shock you to learn, dear friend that I had a small side business in Piracy! Arrgh. I hid my sinfully plundered treasure next to the jetty on the western beach. If you were to use a spade, to dig it up and give it my wife, I will reward you with plentiful riches ye old sea dog. If you be in need of a spade, they be sold in town.
Speaking to the pirate a second time, he will give you a more precise location for the treasure.
Haven't ye found it yet, it be right next to the jetty, on the western beach me old matey, on the left as you look out to sea.Return to the centre of the village and enter the General Store, it's highlighted in yellow on the map.

Speak to Mill, the Shopkeeper to purchase the Spade. It can be found near the bottom of the list of goods and will cost around 200 coins. Once brought head back down to the southern beach where you spoke to the grieving wife earlier. Walk between the gap of the rocks and crates on the left edge of the pier, staying quite close to the side of the pier. Use the spade near the upright supports that go into the sand to recover the pirates treasure.

With the 500 Gold acquired you can just take the money and run, if you kill the grieving wife the ghost will disappear so the Chicken Kicking stand can open but you will gain 60 evil points.
If however you choose to return the gold to the grieving wife she will believe the lie about her husband.

Oh my goodness this is from my husband, you say he saved it up by taking tourists out on his boat. Well yes I do remember seeing him take people on board but they looked like bandits from a distance, isnt that silly. I knew he really cared for me, he was such a good honest man, thank you so much. I will still pray to see him return safe one day, right after I've done some shopping!

Giving you 60 good points. Go and talk to the Ghost pirate to tell him that you've given the money to his wife. He'll reward you with knowledge of another burried treasure.

Avast you've been a trusty sea dog ye have. A per chance now I can finally enjoy my death, but before I leave I shall keep my end of the bargain Aarrgh. The rest of the swag be burried under the axe of a statue in the local graveyard. If it still be there, you're welcome to it, now thank you and goodbye.

With the new knowledge acquired talk to the vendor at the top of the hill.

Have you got rid of em yet? You have! Why capital news, come down and pay me and the chickens a visit if you like.

This will open the chicken kicking stand that can be accessed at any time now.

Continue following the path around and as you pass the cottage on the left, turn right and head past the body guard for hire through the metal gates.

As you reach the top of the hill you will enter into Oakvale Memorial Garden.

Once inside the grave yard, there is a statue of a hero swinging a giant axe. Walk up behind the statue and use your spade to dig for the rest of your reward. Gaining you a Silver key, the Obsidian Greataxe and 100 Coins.