The case is the first series of the pointed crown guard..Very rare..More info below
May 21 2012, 8:54 AM
Besides the first 5512 square crown guard, I believe the second desirable case to collect would be the first generation 5512 pointed crown guard variant. From my research not all early 5512 crown guards have the same shape. The early release 1959 or so 5512's had a more define side angled peak to the crown guard shape. I noticed even back in the day on my early 5512 which I purchased ten years ago that this crown guard was not a run of the mill pointed guard. But back then when vintage Rolex was not mainstream yet, I did not have the research tools and other examples from other collectors or from dealers to put this puzzle together.
When one compares the second generation 5512 pointed crown guard case to the first generation, one can see in my opinion a lack of defined sharper side peak side area. It also appears to me that the second generation crown guard sticks out a little farther in covering the side crown field area. While the first generation crown guard comes at a steeper angle and sticks out less.
The first generation pointed guard 5512 case with this unique crown guard shape seems to have been produced around the 5xxxxx range with possibly only III 59 case backs. As with very early 5512's, the reference and serial numbers were placed at the top of the middle case area unlike the latter bottom number case placement.