Three Indians were brutally murdered by a gang of hooded outlaws. Each one possessed a silver medallion, which were sections cut off from a large silver plaque which served as a treasure map to a secret location where a large amount of gold is reputedly stashed. Two more medallions are unaccounted for, and The Lone Ranger (Clayton Moore) and his friend Tonto (Jay Silverheels) must use all their resources to intercept the gang, prevent further carnage and save the owners of the medallions.