Fearing punishment from Queen Denteena for not finding any good teeth, an unlucky tooth fairy takes a boy down into the underground kingdom of the tooth fairies so he can explain that his tooth fell out but he mislaid it.
Roger's friend Kenneth uses an unusual sea vehicle of his own design to take them to an underwater cave, where a cache of old loot gathered by the mermaids turns out to contain a lot of very valuable old baseball cards.