what a gorgeous example of 50's snazz! as typical of that era, many of these classic twotone oysters came on stainless bracelets. i have had a few similar old oysters and they all seem to be from 1953 so that particular year must have been a big run by rolex on case manufacturing. however i never came across that milled bezel style before and it is very interesting.
i would contact Tommy (RolexWatchTime) and take him up on his offer as he knows these old oysters in and out and yours will be in good hands! shipping from Singapore to RolexWatchTime in Texas is easy peasy so get it done right and enjoy your family heirloom for decades to come
best wishes from the deep tropics!