The Bluenose, Canada's most famous ship, was launched at Lunenburg, NS, in 1921 and named with the common sobriquet first applied by T.C. Haliburton to natives of NS. The schooner was designed by William J. Roue to fish the Grand Banks and to race. Skippered by Capt Angus J. Walters against the fastest American schooners, it won the International Fisherman's Trophy, emblematic of the sailing championship of the fishing fleets of the N Atlantic, in 1921, 1922 and 1923. Its only defeat was by the Boston schooner Gertrude L. Thebaud in the Lipton Cup in 1930, but it outraced the Thebaud for the Fisherman's Trophy in 1931 and 1938.

The Bluenose also held the record for the largest catch of fish brought into Lunenburg. It came to an ignominious end, sold in 1942 to a West Indies trading company and wrecked off Haiti in 1946. A sculptured profile of the Bluenose has been reproduced on the Canadian dime since 1937. A replica, Bluenose II, was built in the same Smith and Rhuland shipyards in Lunenburg and launched in 1963 amid nostalgia for the lost golden age of sail.