Training soldiers off in the countryside, Prince Richard is unaware that his father the King is ill. A messenger is sent to tell him, but scheming Prince John has him killed and a false message sent that causes Richard to go off to make a treaty with the unpredictable Lady Catherine. In the mean time, the King dies and John insists that in Richard's absence, he should become the new King.

Back in 1189 London, Richard and his men receive no welcome, only to find that Prince John has kidnapped their mother, Queen Eleanor, and is intent on installing himself as the new King.

Having returned to London to prepare for his coronation, Richard discovers that Prince John has fled the country with the Queen as hostage.

Richard leads his men to capture thieves who've stolen Excalibur from Arthur's tomb at Glastonbury Abbey, but danger dogs block his path.

Hearing that Leopold demands a price of 150,000 marks for Richard's release, Queen Berengaria commands Sir Gilbert and Sir Geoffrey to raise the money.

Told by a fortune-teller that Richard is dead, Prince John makes plans to proclaim himself King. He has reckoned without Robin Hood and his Merry Men – Richard's loyal subjects.

The "Little People" are taxpayers of outlying counties. They've been dunned for four large payments and are nearly bankrupt. Richard finds they have been tricked into paying by false documents backed by Prince John's soldiers.

Nicholas, a charlatan posing as a monk, goes from town to town selling indulgences, with forged documents of authority from Richard. His intention is to blackmail nobles who supported John's attempted coup. Richard seeks the phony friar, and pursues him to a country inn.

As Richard's coronation draws near, great importance is placed on the clothes to be worn to the ceremony. One such costume is smuggled out so that a lord, who will lose his status should Richard come to full power, can disguise himself and get close enough to kill him so the exiled John will be crowned.