It is the year 1830. In the Spanish Main, local beauty Manuela Alva, is living on the island of Calvados and dreams of falling in love with the legendary Caribbean pirate known as “Macoco”, sometimes called “the black Macoco” due to his fearsome buccaneering and looting. However, her guardians, her aunt and uncle, aiming to get rich, insist that she marry Don Pedro, the town mayor, an arrogant and bullying much older man. She resigns herself to her fate but before the wedding, in nearby Port Sebastian, she meets by chance a troupe of traveling circus actors, led by the handsome Serafin. Attracted to each another but, while Serafin wants to woo Manuela, she refuses his advances claiming to be promised in marriage to Don Pedro. At the circus show, during a hypnosis act, Serafin learns that Manuela is secretly enamored of Macoco. This revelation persuades Serafin to resort to a trick to woo her. He pretends to be the famous pirate Macoco and he plays the part well, assisted by the complicity of his troupe. His performance is so well-executed that it convinces everyone, including Manuela, that he truly is Macoco the pirate. Unfortunately, it also convinces the local authorities and the visiting Spanish Viceroy that he is a wanted pirate. Serafin, masquerading as Macoco, is arrested by the Spanish troops. Despite his pleas that he only is a circus actor impersonating a pirate, he is found guilty of piracy, partly on fake evidence supplied by a fearful and jealous Don Pedro. Serafin, aka Macoco the pirate, is sentenced to death by hanging. Only a miracle can save his neck but Serafin and Manuela manage to arrange one.