The America was built in New York in 1851 and sailed almost immediately across the Atlantic to commence racing in Britain, where she was entered for the Royal Yacht Squadron's One Hundred Guineas Cup around the Isle of Wight. The race took place on 23 August 1851; there were seventeen other contestants: English cutters and schooners ranging from 47 to nearly 400 tons. The strong feature of the America was the rake of the masts, typical of the pilot schooners and clippers of her day. No time allowance was given and the race started while the yachts were at anchor.

The fleet started to the East with a following wind. At Ryde pier, the America was lying fifth; by the time she reached St Catherine's Point [the half-way mark], she was first; a fast reach to the Needles Lighthouse and she was still in the lead; on the run back to the Solent and stemming the west-going tide, she slowed down, allowing a local boat, the Aurora, to catch up a little. When she finally crossed the finishing line, after 10 hours and 37 minutes, America was in first place, with her nearest rival, the Aurora, close behind.

The Cup was presented to Commodore Stevens of the America and has been known as 'The America's Cup' ever since.