Not sure if this has been discussed but what are peoples thoughts on this? Basic idea is that when a ship sinks, a buoy floats up to the surface (maybe with a little lantern on it) so the loot (if any) can be found. There's nothing more annoying than having a battle and sinking a ship and then not being able to locate it.
Just happened with on of the skeleton fleets too. Me and a buddy soloed the current shores of plenty fleet in a sloop and then was unable to find the captains loot which was rather annoying.
It would then despawn after a set ammount of time (10-20 mins?). Anyway just an idea. Happy sailing!