It all began during the series of races held in that year to determine the winner of the America's Cup.  On one of the race days a very stiff breeze was whipping up the whitecaps, and the judges decided to postpone the contest until better weather prevailed.  The disappointed crowd of spectators who had come to watch the race turned, instead, to discussions of the wisdom of the judges.  The attitude of the deep sea fishermen who were following the races with keen interest, was somewhat scornful.  "Call that a breeze?  They ought to see what we can do."

• Canada 1998.  William J. Roue.  The stamp is printed in part from the original engraving of "Bluenose".  

In October 1921, after a season fishing on the Grand Banks, "Bluenose" brought the trophy home, and in an 18-year racing career "Bluenose" did not give up the trophy.  In 1946 she was lost off the shores of Tahiti.  

It has often been disputed whether Bluenose exists on cover -- or perhaps rather on piece, or whether used Bluenoses might be favour cancelled.  An assumed favour cancel is shown below left, and a Bluenose "on piece" on the right.  Roy Lingen (Canada), has given the following information:  

There are two common sources for used Bluenoses:  bank money parcels and bulk mail receipts.  Please read below for more information. 

1) Bank money parcels -- the banks at the time moved currency from bank to bank, using registered mail, fully insured. The insurance fees added up! Most of the Bluenoses I have seen "on cover" are on tags that were attached to bags of money. 

2) Much attention has been drawn to the "CTO" look of corner cancels on many Bluenoses.  No question, many of these stamps were "favour cancelled" long after they went out of use. The stamp was only current for a little under two years  (Jan 8, 1929 until the Grand Pre was issued Dec 4, 1930).  It was readily available at face value in collector circles until well into the 1940s.  Many nicely cancelled copies will have the year conveniently just off the stamp, or will show a date in the late 30's or early 40's.  Collectors would have done this to get a nice used copy because most of the legitimately used ones would have had the ugly, heavy roller cancels.  Purists will look long for a CDS-cancelled copy with the date in the period of use. That finally leads me to the other place they got used -- as receipts for bulk mailings.  A newspaper might deliver hundreds of newspapers to the post office for bulk mailing.  They would often receive a receipt with many copies of high value stamps attached and cancelled as a receipt for the bulk postage. These are the source of many legitimately cancelled CDS-copies available.  

Roy Lingen has further added:  There may well exist fully legitimate covers carrying a single Bluenose.  Imagine this (fictitious) cover:

9oz (255gm) registered to a non-British Empire UPU country (i.e. almost any country in Europe, South America, Asia etc).  This could easily be a larger envelope carrying legal papers. 

Such a cover might reasonably have carried a Bluenose single, and would be an extremely valuable cover today (since single usages of high value stamps, paying exactly the correct rate are very rare and desired by postal historians). 

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The harbour of Luenenburg has also appeared on a Canadian 100 dollars banknote (1975).

• Bank of Canada 1975. The reverse of a 100-dollars banknote, showing the Harbour of Lunenburg. Click on the banknote to see the obverse side.  The link will open in a new window.