As The Maltese Falcon begins, the audience learns a little about the Golden Falcon through a running story on the screen. In 1539, the Knights Templar of Malta paid tribute to Charles V of Spain by sending him a Golden Falcon encrusted with rare jewels. When pirates captured the ship, however, the Maltese Falcon was lost, and its whereabouts remain a mystery until the present time (1941).

The story then moves to San Francisco, where Sam Spade, a private detective, meets with a beautiful, young client - Miss Wonderly. The woman is from New York and is looking for her sister, who she believes is with a man named Floyd. Miss Wonderly explains that she is trying to find her sister before her parents get home. She had sent word to her sister, but she never heard from her. Then she received a letter that said...