St Andrews-born Anderson died penniless in a poorhouse in Thornton, Fife, in 1903 and was laid to rest in the Cathedral graveyard just a short walk from the Old Course.
He is one of only four golfers to have won three consecutive Open championships (1877-79), alongside Young Tom Morris, Bob Ferguson and Peter Thomson.
Local author Roger McStravick launched a fund-raising campaign to erect a fitting memorial to one of the game’s true pioneers after discovering that Anderson’s grave was unmarked during research for his award-winning book, St Andrews in the Footsteps of Old Tom Morris.He said: “I felt like he was the forgotten golfer and it kept coming back to me that I needed to do something to correct that, so I contacted relatives of Anderson’s in Australia and they were 100 per cent behind the idea of erecting a memorial.
“The project took three years and we received donations from all over the world where golf is played, but most of the funding was provided by the R&A, the golf clubs of St Andrews and the St Andrews Pilgrim Foundation.”
The service was attended by a number of local dignitaries and various sporting figures including former Open champion Sandy Lyle who addressed the gathering.
McStravick, who also delivered a eulogy highlighting Anderson’s contribution to golf, added: “There was a sizeable crowd and the occasion was very emotional.”