Coronet is a Schooner Yacht which was first launched in 1885, and she was one of the most elegant sailing yachts of her day. She was designed for crossing the ocean in style, featuring a marble staircase, stained glass doors, mahogany paneled staterooms, and a piano in the main salon.
The 131-foot schooner Coronet was designed by William Townsend and built for Rufus T. Bush by the C. & R. Poillon shipyard in Brooklyn. Bush then put forth a $10,000 challenge against any other yacht for a transatlantic race. The ocean race between the Coronet and the yacht Dauntless in March 1887 made Rufus T. Bush and the victorious Coronet famous—the New York Times devoted its entire first page for March 28, 1887 to the story.
Since 1995, she has been on the campus of the IYRS in Newport, RI under restoration. In 2006, Coronet Restoration Partners purchased the project and has continued progress on a full restoration. The project is open to the public and can be visited on the IYRS campus.