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Does Level Effect Loot Drop?

Gunner's Mate
Oct 12, 2010
This may seem like a ridiculous theory, but I was wondering if the level of your character effects the loot drop that you get from chests. Here's why I think that: I was doing Buck Bronco to get the "Buck's Britches" Because I thought that it'd look cool. I did Buck Bronco and all I ever got was one pet snack each fight... I'm just curious