Wet Gold is the story of a young woman (Laura), who works as a waitress in a cafe. Laura stumbles across a drunk elderly man (Sampson), who fills her with exciting stories of a boat that went down with millions in gold. Although Laura's boyfriend (Barnes), keeps telling her that Sampson's stories are all false, Sampson makes her believe that they are indeed true. Laura takes Sampson to a library, where she finds an old newspaper article which matches up with the events described to her by him. After becoming a true believer, Laura convinces Barnes, Sampson and a dive shop owner, Keating, to search for the treasure. Together they set off from Key West in the Baker's boat, which Barnes is supposed to be looking after. Keating shows a liking for Laura, and because of this, Barnes begins to feel uncomfortable towards him. After spending some time in the water, their dreams become reality, but the discovery of gold begins to show a change in their personalities...

Auggie and his pals are living it up as perpetual college students. When the dean decides teh only way to stop their schemes and antics is to graduate them, they have to go out and find real work. Auggie hears that Samantha is planning on selling her father's garage to fast food king Wrangler Bob, and comes up with one final scheme; a risky bank loan to turn the garage into stiff competition for Bob. When it looks like Bob will win after all, they develop a very special sauce that keeps the crowds coming because it has the effect of being an aphrodisiac. Bob doesn't like to lose, so he sends his "spy" Dixie Love to infiltrate the restaurant and find out their secret. The ensuing FDA investigation culminates into a hilarious case of disorder in the court!

For the past four years, San Francisco cop Jack Cates has been after an unidentified drug kingpin who calls himself the Ice Man. Jack finds a picture that proves that the Ice Man has put a price on the head of Reggie Hammond, who is scheduled to be released from prison on the next day.