The scene of the opera is laid in Piombino, Italy, in the 15th century. The stage represents a farm, when the peasants are celebrating the vintage festival. Rocco, the farmer, instead of joining the pleasures, sits moodily apart. In reply to the peasants, who ask the reason, he declares that it is on account of his ill-luck, which turns all his efforts to disadvantage. Pippo, his shepherd, whom he had sent to his brother for aid in his misfortunes, returns, bringing only a basket of eggs, and a letter, to the disgust of Rocco, with the information that his brother has sent, also, his turkey-keeper, Bettina, who will bring good fortune to his house, she being a Mascot, or hearth-angel, whose presence makes a home happy and prosperous.
Pippo gives a glowing decription of Bettina's charms and accomplishments, which Rocco laughs at; and when Bettina arrives, shortly afterwards, she meets with a cold welcome from him, and an order to return whence she came. While she is preparing to leave, the scene is interrupted by the arrival of a hunting party, consisting of Prince Lorenzo, his daughter, Prince Frederic, and members of the court, who stop at the farm for rest and refreshment after the chase.
The Prince who deems himself one of the unlucky ones, takes notice of Bettina, and by accident learns that she is the possessor of peculiar virtues, and determines to take her to his court, and make use of her gifts for his own advantage. Rocco appeals from his decision; but the prince pacifies him with the promise to make him Court Chamberlain, with large powers and emoluments. He then ennobles Bettina as Countess of Panada, and with these added to the party, turns gaily homeward, leaving Pippo behind, to his great disgust, and the sorrow of Bettina.
In the Second Act, we find the characters at the grand-ducal palace at Piombino. A grand fête is to be given in honor of the marriage of Fiametta, the Prince's daughter, to Frederic, the crown-prince of Pisa. Bettina is in great favor at the court, and is believed to be the King's favorite. While she, weary of the splendor that surrounds her, pines for her free peasant life, and for her absent lover, Pippo.
Among the other wedding entertainments is to be a display given by a company of actors and dancers, the principal one of which, under the name of Saltarelle, turns out to be Pippo in disguise. The lovers meet, and plan an escape, which fails, however, through Rocco, who announces the presence of Pippo to the Prince, and his arrest. Meanwhile, Fiametta has taken a great fancy to Pippo, and turns her back upon Frederic. She acknowledges her passion to the former, and tells him that Bettina is false to him, and about to marry her father, the Prince Lorenzo. At the last moment, Pippo and Bettina come together again, and explain matters. In a moment of general confusion, resulting from the cross-purposes of all parties, they escape by leaping through a window into the river below, to the horror of all present.
In the Third Act, the scene lies in the large hall of an Italian inn, in the duchy of Pisa. Soldiers of the Pisan army are carousing in honor of their recent victories, gained under the lead of Frederic, over the armies of Lorenzo. Pippo appears as a captain and friend of Frederic, and Bettina, as a young trooper, in which disguise she has fought through the war, as the companion of Pippo. They reveal their real names and persons to Frederic, and Pippo declares his intention to leave the army and marry Bettina at once.
While the preparations are making for the wedding, Lorenzo, Fiametta and Rocco disguised as strolling minstrels, and wandering through the country to gain a living in their altered condition, resulting from the reverses of the war, meet the bridal party at the inn, make themselves known to each other, and after proper explanations on all sides, Fiametta goes back to her old lover, Frederic, and the wedding of Bettina and Pippo is celebrated with general rejoicing.