Although it did not receive its current name until 1985, the trophy was first awarded in 1967, when the St. Louis Cardinals defeated the Boston Red Sox. A new Commissioner's Trophy is created each year, much like the Lombardi Trophy and the O'Brien Trophy; in contrast, the Stanley Cup is passed from champion to champion. Since its inception, the only year that the Commissioner's Trophy has not been awarded was 1994, when the players' strike ended the season on August 11, resulting in the cancellation of the entire post-season. The New York Yankees have won the most Commissioner's Trophies (seven World Series wins since 1967). The St. Louis Cardinals hold the record for the most trophies won in the National League (four wins).
The current trophy was redesigned in 1999 for the 2000 World Series and made by Tiffany & Co. The original trophy was designed by Lawrence Voegele, of Owatonna, Minnesota. The trophy is 24 inches (61 cm) tall, excluding the base, and has a diameter of 11 inches (28 cm). It weighs approximately 30 pounds (14 kg) and is made of sterling silver. The trophy features 30 gold-plated flags, one for each of the Major League teams, which rise above a silver baseball covered with latitude and longitude lines that symbolize the world. The baseball also contains 24-karat vermeil baseball stitches. The base contains an inscription of the signature of the commissioner, as well as the words "Presented by the Commissioner of Baseball". The new design was presented for the first time at the conclusion of the 2000 World Series, won by the Yankees.