Sometime before the events of the series Jake and his crew acquire the Team Treasure Chest to store every gold doubloon they've found in their adventure. The origin of the chest has yet to be revealed.
As revealed in the episode "Treasure Chest Switcheroo", when Captain Hook and his crew steal the Team Treasure Chest. Hook tries various means to force the chest to open but all fail. The chest will only open to the special song Jake and his pirate crew sing after every adventure. In "Captain Jake and the Never Land Pirates", the special song was replaced by series of mechanism such as cutting wire vines to drop the coconuts and end with the barrel dropped into the hole to unveil the treasure chest.
The Team Treasure Chest is featured after every adventure in the series storing the gold doubloon Jake and his crew find after solving a pirate problem.
The Team Treasure Chest plays a larger role in in the episode "Treasure Chest Switcheroo" Jake and his crew discover that Captain Hook and his band of sneaks have taken their Team Treasure Chest where they collect and store all their gold doubloons. After many attempts to force chest open fail Hook and his crew paint an old chest to make it look like Jake's chest so the pirate kids will think they really found it so he could learn the words to the song to open the Team Treasure Chest.
The Team Treasure Chest plays a role in the special "Jake and the Never Land Pirates: Never Land Rescue". While Jake and his crew set off to discover the cause of Neverland's disappearance, Captain Hook took the opportunity to raid Pirate Island for the chest. Later Hook uncovers the chest and was about to smash it open with his Sledge Hammer-Hook until Jake, Tinker Bell and Peter Pan intervene.
The Team Treasure Chest once again plays a larger role in the episode "Mystery of the Missing Treasure!". Jake and his crew discover that someone has stole the Team Treasure Chest originally the young pirate believed the thief was Captain Hook and his scurvy band were the thieves but none of the various clues that the pirates discover on Pirate Island match Hook and crew. Jake and his crew continue searching for clues for answer it wasn't until they discover a brown feather and ask the Sing-Songbird about it was the feather belongs to Fast Claw who belongs to Beatrice Le Beak.
The Team Treasure Chest is also featured in "Captain Jake and the Never Land Pirates", but there's a difference: Jake and his crew are no longer using the special song and count the gold doubloons sequence as seen in it's preceding three seasons and so, instead they use series of mechanisms and directly stores it in the chest.
The Team Treasure Chest appears in the live musical stage show at Disney California Adventure and Disney's Hollywood Studios. Captain Hook and Mr. Smee steals the Team Treasure Chest where they keep their gold doubloons and joins the audience pretending to be the Crocodile to scare Hook off. The stage production story plays very similar to the already mentioned episode "Treasure Chest Switcheroo".