100 Dollars - Elizabeth II Knighting of Sir Francis Drake

The knighting of Francis Drake by Elizabeth I took place aboard the Golden Hind at Deptford in April 1581, making the 400th anniversary a natural occasion for this issue. Drake had just completed his circumnavigation — only the second in history — carrying plundered Spanish silver that Elizabeth accepted while simultaneously denying any involvement to the Spanish ambassador.

The British Virgin Islands had only issued commemorative gold since 1975, and the Franklin Mint struck several of these anniversary pieces under contract.