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Silver Chests return in Fable III, as is expected. These chests, as their name implies, require Silver Keys to open, with many requiring 15 or more out of the 50 Silver Keys in the game. Fortunately, you don't use up Silver Keys upon opening a Silver Chest, so the requirement is cumulative - you don't have to pick and choose which of these to open. Finding every last Silver Key can be a challenge, but most of the Silver Chests only require 1-20 to open, and even the lesser ones contain some fairly compelling rewards.
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Bowerstone Castle 1/1
Silver Keys Required: 50
Contents: 2 million gold and a random Legendary Weapon
After becoming ruler of Albion, head off into the courtyard behind Bowerstone Castle. Make your way to the entrance to the Catacombs, then turn right, and you'll find this "ultimate" Silver Chest past a fountain.
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Bowerstone Market 1/1
Silver Keys Required: 15
Contents: 20 Guild Seals
In the Bowerstone Market square, near the job boards, there is an alleyway between Bower Threads and The Cock in the Crown. The Silver Chest is in that alley.
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Bowerstone Industrial 1/2
Silver Keys Required: 5
Contents: 5 Slow Time Potions
Head over to Reaver's factory, the one where you see the man shot during the beginning of The Bowerstone Resistance quest. To find this Silver Chest, climb the catwalks to the very top.
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Bowerstone Industrial 2/2
Silver Keys Required: 5
Contents: 50,000 gold
Check a small walled-in courtyard across the bridge opposite The Riveter's Rest tavern for this Silver Chest.
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Brightwall Village 1/2
Silver Keys Required: 10
Contents: 50,000 gold
This chest is outside Brightwall Academy, near the fountain, but it's within some hedges you can't climb over. To get there, head back down the hill and climb up the nearby staircase, next to the stall vendors, then circle around.
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Brightwall Village 2/2 (The Reliquary)
Silver Keys Required: 1
Contents: Dog Training: Combat 2
Upon entering The Reliquary from the Brightwall Academy, turn into the left wing for the first Silver Chest.
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City of Aurora 1/1
Silver Keys Required: 20
Contents: Random Legendary Weapon
Exiting the temple, take a sharp right to find this Silver Chest nestled in the corner.
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Dweller Camp 1/1
Silver Keys Required: 5
Contents: 10 Guild Seals, Health Potion
Head from Sabine's encampment and take a short walk up the left side of the Dweller Camp to find this Silver Chest sitting on a ridge underneath the mountainside.
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Millfields 1/1
Silver Keys Required: 20
Contents: Random Legendary Weapon
You'll find this Silver Chest pretty easily just beyond the Demon Door; look for the statue of a man looking through a spyglass, and you'll find the Silver Chest right at his feet.
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Mistpeak Valley 1/2
Silver Keys Required: 5
Contents: 10 Guild Seals, Summon Creatures Potion
Exiting from the Dweller Camp, follow the path down the mountainside until you get to a small three-way crossroads with a signpost, just past a wooden gate. Take the right-hand path up - you'll know you're going the correct way if you find yourself climbing a long wooden catwalk along the cliffside. Follow the winding path up to the top of the mountain; the Silver Chest is near to another bridge, overlooking the Valley.
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Mistpeak Valley 2/2 (Chillbreath Caverns)
Silver Keys Required: 15
Contents: 75,000 gold
Enter Chillbreath Caverns from the lower entrance, following the path up from the lake and sticking to the left all the way up. You'll find the Silver Chest by following the path through the caverns; when you come across a fork, be sure to take the left one. Continue along the path and out of the cavern to find a Gold Key.
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Mourningwood 1/1
Silver Keys Required: 10
Contents: Random Legendary Weapon
Exiting from The Hole, follow the path towards the Mourningwood Fort until you cross the bridge. Instead of heading down below, climb up the hill at the end of the bridge and then follow the way to the left. The Silver Chest is overlooking the path below.
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Shifting Sands 1/1
Silver Keys Required: 10
Contents: 50,000 gold
You'll find this Silver Chest fairly easily while exploring Shifting Sands. Head towards the giant stone archway in the middle of it, climb up a hill on the right-hand side, and you'll find the chest sitting on a ledge overlooking the dunes.
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