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Not the same on other freeshards, and it's even claimed on the Wiki that you can, in fact, fish up serpents, nets, and MiBs.

I quote the Wiki:

Fishing up treasures:

Above 75 skill:

Message in a Bottle aka: MiB
When used it will turn into a Waterstained SOS . Or if you're lucky it will turn into an Ancient SOS , which about 1 in 25 does.

Metal and Wood Chests
Treasure chests are fished up by the use of a Waterstained SOS from a Message in a Bottle. They are the only treasure chest that can be taken and used for home storage. These chests will carry a treasure rating of 1 - 3.

Ancient Chests
This chest is fished up by use of an Ancient SOS. The chest is a level 4 treasure chest and always colored white. Inside these chests will also be a Fabled Fishing Net that will summon up a large group of sea monsters including the Leviathan.

Above 80 skill:

Special Fishing Net
These can be found as loot on sea serpents or in fished up treasure chests. When used, the net appears to throw out many fishing lines and a set of nasty monsters will spawn, consisting of Water Elementals, Sea Serpents, Deep Sea Serpents and Krakens. There is a chance for it to spawn in one of the 14 special colors:

White Pearls
Used to make Pendant of the Magi, Arcanist's Wild Staff, Lightweight Shortbow, Spellblade of Defense, Luckblade, and the Adventurer's Machete. It is also an Imbuing ingredient needed to imbue the any of the regular Slayer properties onto weapons. These can be sold at a fairly decent cost.

Big Fish
A rare fish that one can use to exchange for Oceanic Coins!!

Delicate Scales
Used with Imbuing skill to add Use Best Weapon Skill (UBWS) property onto weapons. (Not really usefull on this server!)

Above 90 skill:

Treasure Map
You can fish up a level 1 or level 2 treasure map that is for a land adventure of very easy standards. Most new players can handle the spawns from a level 1 treasure map.

All you can fish up are Big Fish. That's misleading. Either the Wiki ought to be fixed or fishing ought to be fixed. I'm having no problems fishing up serpents on the shard I'm on right now. I'd rather be doing it on Pandora.

sail around until you find the spawns of them. or go to lower shame dungeon and kill a few there.

No disrespect intended, but that means fishing is useless. That's a dealbreaker with me for the server, which is too bad, but it's what I enjoy the most out of UO. I'm really surprised at this, as everything else on this server seems to be well thought out. A thought for future things to work on, since I know alot of people love to fish.

So you don't fish up serpents, how do you get the MiBs and fishing nets in the first place then, since I read on another forum post that you can't fish those up either??

I'm in the high 90s now, nothing but fish and some seaweed, no pearls, nothing else.

Hiya, newb to the shard. I enjoy t-map hunting and fishing up serpents and such. However, I'm at 88.6 fishing, and not a single serpent or anything else other than fish or shoes, for that matter. Is this a useless skill on this server?