In July 1967, a few weeks after his solo circumnavigation, Chichester was knighted, being appointed a Knight Commander of the Order of the British Empire for "individual achievement and sustained endeavour in the navigation and seamanship of small craft". For the ceremony, the Queen used the sword used by her predecessor Queen Elizabeth I to knight the adventurer Sir Francis Drake, the first Englishman with his crew to complete a circumnavigation. "Gipsy Moth IV" was preserved alongside the "Cutty Sark" at Greenwich.