Yes, that's a Japanese CTR ring shield cut in half...
In case you don't already know, Pirate's Gold is a kids/family game. It's fun, for what it is.
Each player assumes the role of a pirate captain attempting to collect the most gold treasure from the bottom of the ocean floor. Each ship is equipped with a magnet that attracts numerous magnetic-topped teasure chests. All the action takes place on a see-through game board with holes in each player's port in order to remove captured booty. And to add to the fun are blue "almost-invisible-to-4-year-olds" walls which strips the treasure you are carrying off the bottom of your boat if you travel through them rather than around.
On their turn each player roles a six-sided die number 1-4 and moves thier ship the appropriate number of spaces: forward, backward or sideways. The game gets interesting when a player roles a 1 or a 4, this enables them to also roll a special "Dice of Doom!" This 6 sided die allows the player to move a sea monster in the center of the board toward an opponents ship (if it lands on it, the ship must drop any treasure it is carrying and return to its home port), move an opponents ship a certain amount of spaces (as if its being tossed by a storm), or still one treasure from any opponent. The focus of the game--and it plays a big roll in who wins--is hoping to roll a 1 or 4 so you can get a crack at the Dice of Doom.
Once you manage to get a treasure chest home you may open it to secretly reveal its worth (anywhere from 0-4). The game continues until someone reaches a predetermined amount of treasure, or as we play, until all treasure has been collected off the ocean floor.
The player tokens in this game are big, detailed and colorful. They are very easy to grip and move for young players. The sea monster is detailed and looks great! The see-through board is also good and thick and does not get marred easily when kids drag their ships along it when moving. My only disappointment in the game pieces are with the treasure chests. The latch closed and after 30 or so plays, 3 of the latches no longer work and the lids of these chest are always open. This is a problem because with the lid open the chests cannot be dragged from space to space by your ship, so these chests are pretty much useless.
All-in-all the unique use of magnets to carry the treasure makes this a game that most kids love. And the mild Dice of Doom consequeces can prepare them for more cut-throat games later on in life!