For the Collier, its purpose has altered a bit to recognize the "greatest achievement in aeronautics or astronautics in America." Recent winners have included Virgin Galactic's SpaceShipOne, the Eclipse 500 private jet, the International Space Station andfor the 100th anniversary of the award in 2011the Boeing 787 Dreamliner.
Other old trophies
In our bit of research on these trophies, we also came across information on two more trophies of the time: the Schneider Trophy for seaplanes and the Pulitzer Trophy, designed to drive American companies to build faster airplanes.
A new trophy
The era of the air races may be over, but at least one new trophy has been established after the beginning of the jet age. It's the "Rolls-Royce Aviation Heritage Trophy," just renamed to be the "Neil A. Armstrong Aviation Heritage Trophy." Each year, the recipient is the "aircraft judged [by the National Aviation Hall of Fame] to be the most authentic example of a vintage aircraft restored to airworthy condition." Check out the 2012 winner list right here.
Where they are now
Curious to see these trophies in person? The Collier, Mackay, Harmon, Thompson and Bendix trophies are all housed within glass cases at the Smithsonian National Air & Space Museum. Even the modern Rolls-Royce/Neil Armstrong Aviation Heritage Trophy resides full-time in the Steven F. Udvar-Hazy Center of the Smithsonian National Air and Space Museum.