Cowes for the use of Queen Elizabeth I sowed the seed for Cowes to grow into a world-renowned centre of boat-building. However, seafaring for recreation and sport remained the exception rather than the rule until much later. It was not until the reign of keen sailor George IV that the stage was set for the heyday of Cowes as 'The Yachting Capital of the World.' In 1826 the Royal Yacht Squadron organised a three-day regatta for the first time and the next year the king signified his approval of the event by presenting a cup to mark the occasion. This became
Cup of the Ptolemies to the Holy Roman Emperor Charlemagne before being passed down through the French kings, one of whom eventually donated it to the abbey of Saint Denis. The cup was occasionally used as a chalice for communion wine, and figured in the coronation of the French monarch, at which, according to S. G. Millet as quoted by Conway, the queens took "ablution from this chalice, after holy communion". In 1634, the cup was estimated to be worth around 25,000 livres, with the gem-encrusted gold mountings valued at 1,200 livres. Until September 1791 it formed part of the treasury of the Basilica