25 Dollars - Elizabeth II HMS Victory

HMS Victory is best known as Nelson's flagship at Trafalgar in October 1805, but she was already 40 years old by that battle — launched at Chatham in 1765 and originally laid up in ordinary for years before being recalled to active service. The 2005 issue marks the battle's bicentenary, the same year Britain mounted an extensive national commemoration that included the International Fleet Review at Spithead, where Victory herself was present as a commissioned warship — a status she still holds today, making her the oldest naval vessel in the world still on the Royal Navy's active list.