Vintage Vibes: The Rolex Submariner Small Crown Reference 5508

The Rolex Submariner occupies a special place in watch lore, being the brand’s most recognizable timepiece all while being the most ubiquitous watch design in modern history. A cultural sensation from James Bond to Steve McQueen, the Sub is prized for its versatility both in form and function. With the ever increasing popularity of the piece in modern times, demand for pristine quality original vintage references has exploded. Today, we have the privilege to examine one such reference, a beautiful Rolex Submariner reference 5508 from the late 1950s.

History

Launched with the reference 6204 in 1954, in only a few years, Rolex released several new references in a row, each with slight incremental improvements and refinements. In only 6 years, Rolex had released 8 references with overlapping production. Since no reference lasted very long on the market before being replaced with a new reference, few examples were made of each.

The Submariners of the era were predominantly categorized in two major groups: the “Big Crown” references, beginning with the reference 6200, and the “Small Crown” Subs, most accurately represented with the reference 6536. The 6536 was groundbreaking in that it, for the first time, slimmed the profile of the Submariner significantly, and decreased the visual weight of the timepiece. Prior to this point, the Sub was incredibly substantial, built like the capable dive piece it truly was. The 6536, however, was Rolex’s first attempt to bring the spec that was known and loved on the previous iterations to a slightly more refined and elegant case profile. In my estimation, it was with the 6536 that the seeds were planted for the success of the Submariner as an everyday piece, and not simply a strong sports contender.

In 1958, Rolex released the reference 5508, the piece we are covering today, as a natural continuation of the legacy of the 6536. With the same small crown and unique profile, the newer 5508 is also credited with being the very first “Superlative Chronometer” Sub.

In 1959, Rolex solidified the design of the Sub with the release of the reference 5512. For the first time, the Sub received crown guards, the piece grew to 40mm, and the bezel was redesigned. The reference 5512 was produced from 1959 until 1980. Since 1959, the design of the Submariner has not changed significantly. Slight changes in sizing and lug to bracelet proportion have altered the appearance of the piece slightly, but beyond this, the changes were most clearly influencing the movement technology rather than the fundamental design.

Design Details

The 5508 is one of the perfect exemplars of Submariner design language in the 50s and 60s. With a slab-sided case, elongated lugs, screw down crown and caseback, and a rotating bezel, the Sub has changed less than it has remained the same. Nonetheless, the 5508 possesses many of the qualities of early Submariners that have been lost to history. No crown guards, a gilt dial, and riveted bracelet serve as reminders of the defining design attributes of vintage references from the era.

The 5508 example here is particularly desirable as a result of its pristine dial consistency and evenly patinaed radium lume plots. Equally impressive, the case maintains its lug facets and crisp bezel edges, both areas that are quick to suffer damage in over 60+ years of use. The dial on this 5508 is referred to by collectors as an “exclamation dial”, which was introduced to indicate lower radium levels found on later 5508 models. The watch industry was growingly conscious of the pernicious effects of high radium levels in lume, and in the later 50s Rolex adapted their pieces to have slightly lower radium lume levels.

As mentioned previously, arguably one of the greatest elements of this piece is the riveted bracelet. Riveted bracelets have almost entirely disappeared (I will point out an exception later), which is a true shame, because riveted bracelets are both beautiful and comfortable. One of the pleasures of owning a 50s tool watch is the presence of the riveted bracelet, which immediately dates the pieces to that era.

Additional characteristics of this era of Submariner is the use of a glossy dial with gilt text, and only a few lines of text underneath on the handset, alleviating a common complaint with modern Rolexes that have cumbersome markings on the dial (depth rating and chronometer certification, in particular). At 37.5mm, the 5508 is beautifully sized (significantly smaller than its 41mm modern counterparts). Finally, a softly domed crystal flows into the curvaceous case profile to add warmth to the sports piece’s austere aesthetics.

Inner Workings

The Rolex 5508 is powered by the caliber 1530. The caliber 1530 was produced between 1957 and 1965, with several iterations released with slight modifications during that period. The 17 jewel automatic winding caliber had rudimentary shock absorption technology (kif-flector), but otherwise had no hacking or hand-winding. Designed with durability as a first priority, the 1530 is considered remarkably reliable, especially for its era. The 1530 outfitted almost all early Submariners produced by Rolex, and is considered by many watchmakers to be one of Rolex’s most significant movements in history, setting the stage and layout for later calibers utilized to this day.

Versus the Competition

While the 5508 is a dream watch for many, there are a couple of noteworthy alternative for those seeking something a touch more approachable. The first piece that comes to mind is the Black Bay 58. The Black Bay 58 was designed as an homage to early Submariners (such as the 5508), meaning that many of the nostalgic vintage details of the 5508 are shared by the Black Bay 58. Notably, a faux riveted bracelet provides the aesthetics of the classic styling, and a glossy black dial and gilt text are consistent with the appearance of the 5508 as well. Even the crown has no crown guards, just like the 5508. Essentially, if you are looking for a modern timepiece, less delicate and more precisely machined than an early Sub, or cannot afford a pristine 5508, the Black Bay 58 is a strong alternative.

On the other end of the spectrum, the modern Rolex reference 124060 is the natural extension of the 5508 in the contemporary collection. While Rolex does offer a 126610LN with date, the 124060 has a “no date” dial, just like the earliest Submariners. While the contemporary Submariner certainly is a descendant of the 5508, it is simultaneously a very different watch: strong crown guards, a chunkier case, larger diameter, modern shiny ceramic bezel insert, and solid link bracelet all combine to make for a very different feeling watch on the wrist.

Personality

A variety of collectors would gravitate towards this piece. The Submariner’s fame makes almost every generation of the piece in high demand, always. That said, early Submariners are at an entirely different level of collectibility, particularly when preserved in original or close to original condition. A wealth of collectors seek to acquire early references from the flagship Rolex models, many for investment purposes.

The truth is, however, that a vintage Sub can be an excellent place to begin collecting vintage. Vintage tool watches are among the coolest segments of the vintage market and no watch better exemplifies the category than the Submariner.

Finally, if you like the Submariner, but find contemporary variants to be too large for your wrist, vintage references such as the 5508 will be your only option.

Final Thoughts

Well maintained early Submariners are very difficult to find. While new old stock may be collectable, a well maintained piece is both desirable and wearable, since collectors of lightly worn watches are comfortable wearing them. Watches such as the 5508 pictured are therefore optimally situated for comfort in ownership and simultaneous value retention and collectibility (of course this presumes you want to wear your watches and not just save them). At the same time, it is equally gratifying to recognize that in only a few years, this watch will be approaching its 100th anniversary. The history of Rolex is a story of success, yet over the years models have evolved and adapted to the changes of the times. Somehow, in spite of its vintage aura, the 5508 doesn’t feel like a 70 year old watch. It feels refreshing and young, and I’m sure the piece’s next owner will feel the same way wearing it.