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A good item for peaceful ships since it greatly increases survivability.

There is an upgraded version of this item called Steel Reinforced Planks.

Note: Reinforced planks does not give you more HP, it just reduces the damage you take. You will not see your HP increase, you will just take less damage.

Tools | Fishing RodSpyglass
Weapons | Cannon
Basic Upgrades | Attack Speed UpgradeDistance UpgradeDamage UpgradeShip Speed Upgrade
Ship Upgrades | Air PeglegNitro PegReinforced PlanksSteel Reinforced PlanksAdvanced Toolkit
Cannon Upgrades | Steel BarrelTitanium BarrelSinker's GlovesBlue Gunpowder
Hybrid Upgrades | BruiserDrifterDemolisher
Other | Fountain of Youth