Skeleton Keys are a Treasure Hunter award after completing Open Sesam.
The key opens all chests, and have a 80% chance of not breaking per use. If you have a corresponding key in your inventory when opening a chest (say brown chest = bronze chest key), then the Skeleton Key will not be used. It should also be noted that this key will not open lockboxes, even if they are the corresponding color.
Source
Trivia
- Unlike some other desert island quests the Open Sesam quest can be completed multiple times and more than one Skeleton Key can be acquired.
- The Skeleton Key was crafted by a highly skilled blacksmith named Ealgar. The key is supposedly to be of ancient origin as explained in Ealgar's Journal.
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