The silver bowl, created by Paulding Farnham in 1896–97, was awarded to the 1896 Belmont Stakes winner upon its completion.
[3] Using 350 ounces of sterling silver, Paulding Farnham crafted a 27-inch high, acorn-shaped bowl supported by a pedestal composed of three Thoroughbred horse statues representing the foundation stallions Eclipse, Matchem and Herod.
The cup cost $1,000 to create[3] and augmented the $4,000 in prize money given to the race winner.
Paulding Farnham made several additional Belmont Stakes trophies that were distributed from 1897 to 1907.
In a letter to Mrs. Belmont dated June 8, 1926, Westchester Racing Secretary John J. Coakley wrote: “As desired by you, the Cup will be known in the future as the August Belmont Memorial Cup and will be contested for annually in the renewal of the ‘Belmont Stakes’ at Belmont Park, the winner of each renewal to retain possession of the Cup until the succeeding year.” In addition to being presented the permanent trophy for ceremonial purposes only, the winning owner of the Belmont Stakes receives a smaller replica of the trophy to keep.