
Continuity mistake: Near the beginning of the movie, when the young adult Henry attempts to stop the British Captain from sailing into the triangle, Henry is subdued by the Marines. The British Captain accuses him of treason and rips both of Henry's sleeves down from the shoulders. The next camera view is from slightly further back as the British Captain commands the Marines to take Henry below and Henry's sleeves are still intact.
Answer: There was never any explanation other than Elizabeth kept it in the chest. As both the Elizabeth and Will characters are rumored to return in POTC 6, the question may be answered in that installment.
raywest ★