William Legrand becomes obsessed with searching for treasure after being bitten by a scarab-like bug thought to be made of pure gold. He notifies his closest friend, the narrator, telling him to immediately come visit him at his home on Sullivan's Island in South Carolina. Upon the narrator's arrival, Legrand informs him that they are embarking upon a search for lost treasure along with his servant Jupiter. The narrator has intense doubt and questions whether Legrand, who has recently lost his fortune, has gone insane. Legrand captured the bug but let someone else borrow it; he draws a picture of the bug instead. The narrator says that the image looks like a skull. Legrand is insulted and inspects his own drawing before stuffing it into a drawer which he locks, to the narrator's confusion. Uncomfortable, the narrator leaves Legrand and returns home to Charleston...