The present reference 5512 is an attractive example of this rare Submariner model. It features the black dial with "gilt printing" and depth rating in silver and the correct case back stamped III.59.
For half of a decade, Rolex's sports watches did not have any crown guards. In 1959, Rolex introduced a new generation of Submariner, reference 5512. For the first time, a Rolex enjoyed the benefits of crown guards with square ends in profile.
During the first years, these crown guards have seen numerous changes and developments until, eventually, finding the definitive shape in a rounded form. Prior to that, the crown guards were pointed, only made during a very short time and today very sought after by collectors. Submariners with pointed crown guards are also nicknamed "cornino".
The rarest version however are examples with the square crown guards, the very first batch from 1959. According to research, until today only a handful of these ultra-rare variants have been offered at public auction. Interestingly, all of them feature serial numbers in the very low 478'0xx range; the examples we were able to locate are all within a sequence of 20 numbers. One probably mustn't go any further to conclude the extreme rarity of these historical specimen – such as the present example, serial no. 478’007.