This is the cover of the programme for the Coronation Review of the Fleet at Spithead in 1953. It shows Her Majesty the Queen looking radiant against the backdrop of the mighty battleship HMS Vanguard, flagship of the Home Fleet. She had previously sailed on HMS Vanguard with the rest of the Royal Family when the ship was used as the Royal Yacht for the Royal Tour of South Africa in 1947.
The use of a suitably adapted major warship is, to my way of thinking, the way to restore the use of a Royal Yacht to the monarchy. The previous Royal Yachts conferred great prestige when used for state visits and for the more mundane affairs of government such as trade missions. Britannia had a secondary role as a hospital ship but was unable to be employed in that capacity in the Falklands due to incompatibility of fuel with the other vessels.
One of the new aircraft carriers being constructed might well fit the bill, particularly since the ships are to be named Queen Elizabeth and Prince of Wales! Alternatively, a one-off guided missile cruiser, an enlarged version of the Daring class guided missile destroyers presently entering service, would make a spectacular Royal Yacht with the requisite additional accommodation being designed for immediate conversion to an operational function in time of war.
High resolution image available at:
http://shipsintheportofdover.fotopic.net/p64067291.html