The symbol of international yachting supremacy. The America's Cup had its beginnings in 1851 when the New York Club sent the newly built schooner America across the Atlantic to challenge a 15 yacht British fleet in a race around the Isle of Wight. The Americans took the trophy 'the Hundred Guinea Cup' home and renamed it the 'America's Cup'. In 1983, after 132 years, the America's Cup left the United States after being won by Australia. In 1987, off Freemantle Australia, the Americans won it back again.
Source: New Zealand Post
Mr. Phil Hanley gives the following on this stamp:
New Zealand SG 1420 (Mi. 989) issued 1987. This shows one of "NEW ZEALAND", KZ3, KZ5 or "KIWI MAGIC", KZ7 yachts, the Royal New Zealand Yacht Squadron entry in the 1987 event, the last sailed in 12m yachts. Superstition dictates that this New Zealand series of boats is not even numbered. With vital backing from merchant bankers Sir Michael Fay and David Richwhite, the series of three boats was designed by Laurie Dickson, Bruce Farr, Ron Holland and Russell Bowler, built by Marten Marine of Auckland NZ. Skippered by Chris Dickson, "KIWI MAGIC" KZ7 did well in the run up to the 1986/7 Cup series, reaching the final stage having lost just one race out of 38, only to be defeated for the challenger's place by "STARS AND STRIPES", which went on to win. This was New Zealand's first attempt at the competition. The identical boats "NEW ZEALAND" 3 and "NEW ZEALAND" 5 were both part of the development programme, and proved to be very fast. Uniquely in 12-metres (dominated by aluminium boats) they were of controversial fibreglass "Plastic Fantastic" construction, and the centre of much debate; it is possible (and illegal) to make the yacht light yet strong fore and aft with this material, thereby reducing the moment of inertia and allowing the boat ride the rough seas off Fremantle more easily. The designers estimated the hull material is 20 times stiffer than the aluminium boats. However Lloyds verified these boats as up to the required specification, and the boats were accepted as being within the class rules. The third boat KZ7 was used in the challenger series (Louis Vuitton Cup) with an improved cockpit and keel as compared with her two predecessors (I have not been able to find out if the hull shape was different, or whether the same moulds were used; the dimensions were exactly the same). She was clearly faster than "KOOKABURRA" 3, the defending Australian yacht, so the writing was on the wall for the Australians very early on. Were it not for the US boat, "STARS AND STRIPES", "NEW ZEALAND" may well have won the Cup at the first attempt instead of Dennis Connor (San Diego YC) taking the Cup back to the US. KZ3 is now called "KIWI" and is used in corporate sailing in Melbourne. KZ5 was renamed "NIPPON" (1992), "CANNONBALL" (1993) and "HISSAR" (2000) and is still raced. KZ7 is still called "KIWI MAGIC" and is also used competitively. Even Dennis Connor gets the names confused with these, and refers to KZ7 as "NEW ZEALAND" and as "KIWI MAGIC" within the same paragraph of his book.
New Zealand 1987 $1.30 sg1420, scott?