Another Friday, another list! This week we leave the list of watches with famous movements and focus on the Rolex Submariner. As some of you may know, Rolex, Wallpaper*, and Nicholas Foulkes collaborated on the Oyster Perpetual Submariner: Unlocking the Deep Sea. This book was published last week and provides an excellent overview of the history of Rolex’s famous diving watches. One of the great features of this book is the overview of serial numbers by reference. We crunched the numbers and selected the rarest stainless steel Rolex Submariner for this list. That gives you a good idea of how rare some of them are. Some numbers may surprise you…
We were surprised and pleased to learn that the new book includes production totals of some of the most popular Submariner reference materials. Remember, this book is certified by the Rolex company, which usually does not publish such numbers. So not only is it refreshing to see this level of publicity, but it’s also a good way to see if these desirable models are truly rare, or if they’re produced in fairly large numbers. We selected the five stainless steel references with the lowest serial numbers. Among them there are also special Comex and MilSub models with specific reference numbers. However, the Comex and MilSub models are also produced under regular reference numbers and their total production numbers are not specified in this document. Therefore, it’s best to think of this top five as an indicator of production numbers for some of the rarest models, rather than all models. Now let’s get down to business!
Image: Tempus
Rolex Submariner Ref. 6200
Let’s start this list with the famous Rolex Submariner Ref. The watch debuted in 1954 and remained in production until 1956. This sub is famous for having the popular 3-6-9 dial. This is not the only reference made with the Explorer dial, but it can also be found in references. 6538, 5510, 5512, and 5513 — the most famous references featuring this.
Image: Tempus
This is the oldest Submariner reference produced with this type of dial. The 6200 is part of a group commonly referred to as the “Big Crown Submariners.” The 8mm crown is significantly larger than the 6mm crown used on the Ref. 6204 etc.
Image: Tempus
The 38mm case was water resistant to 200 meters and was powered by Rolex’s caliber A296. This automatic movement is also featured in some of the brand’s “Bubbleback” models. If you look at the gold-plated dial, you’ll notice that it doesn’t have the Submariner name on it. Above the dial are the Mercedes hands, adding even more personality to the dial.
Image: Tempus
The watch was delivered on the famous riveted Oyster bracelet to complete the look. A commonly held belief is that Rolex produced approximately 300 Submariner Ref. 6200, that’s right. The production number recorded in this book is 303 pieces, making it the rarest stainless steel Submariner reference ever recorded.
Image: Wind Vintage
Rolex Submariner Ref. 6205
The next Submariner on our list, the 6205, also came out in 1954, but was in production for just one year. This watch also had a 38mm stainless steel case, but had a 6mm crown on the right side.
Image: Wind Vintage
This detail creates a Ref. 6205 is one of the “Small Crown Submariner”. It is different from the reference. First on the list was the 6200, but the 6205 had a depth rating of 100 meters instead of 200 meters.
Image: Wind Vintage
Inside the case, Rolex has equipped this watch with the caliber A260. It is generally considered an upgrade from the A296 that powered the Ref. 6200. The first model had a pencil hand, like the example in these photos.
Image: Wind Vintage
The later 6205 featured Mercedes hands. The Submariner’s name was also on the bottom half of the gold dial. Rolex produced 810 pieces of this reference, making it the fourth rarest Submariner on this list.
Image: Wind Vintage
Rolex Submariner Ref. 5510
The next reference is another Submariner from the early 1950s. If you’re a fan of the sub, you’re probably aware of that reference. 5510 has always been known as a rare bird. This is the last model of the Big Crown Submariner and the successor to the Ref. 6538 worn by Sean Connery as James Bond in “Dr. No.”
Image: Wind Vintage
This watch also looks very similar to the 6538. It features a black bezel insert with a red triangle, a large crown, and a gold dial with a similar design to its predecessor. The case diameter is still 38 mm and the watch was only produced in 1958. 6538 was the movement.
Image: Wind Vintage
Rolex has equipped this watch with the latest caliber 1530. This new movement debuted in 1957 and is still considered accurate and reliable. But there’s more than just one version. The first update was the change from the so-called “butterfly rotor” to the familiar “half-moon rotor.” The brass-colored gears were then replaced by the red Teflon-coated gears commonly seen today.
Image: Wind Vintage
However, over time, Rolex upgraded the number of jewels from the original 17 to 24 and even 25. This movement was used in the Submariner standard. 5510, 5508, and 5512. Rolex produced a total of 500 pieces of the 5510, and when you see one for sale, its rarity is proven by the accompanying price. The model in these photos is currently on sale at Wind Vintage for $290,000 USD.
Image: Watch Club
Rolex Submariner Ref. 5517
Now we move on to one of the special mentions of military submarines or “MilSubs.” This is also the first ref on this list with the updated case aesthetic introduced by the ref. 5512 and 5513. This case style defines the Submariner’s look to this day. The MilSub is the holy grail for many Submariner collectors, but not just the ref. 5517.
Image: Watch Club
Rolex first produced the Milsub with reference number 5513. The second version added “5517” to the underside of the lugs, making it the reference number. 5513/5517. Finally there was a referee. 5517. This was a standalone MilSub reference, so it is mentioned separately in this book. The MilSab was produced from 1971 to 1979, and the Ref. 5517 was introduced in 1977.
Image: Watch Club
All MilSub models’ 40mm cases are equipped with a fixed strap bar and can only be worn with a pass-through strap. Second, the iconic “T” has been added to the dial. This indicated the use of tritium luminescence in place of the banned radium. Another distinctive element is the bezel insert with a full set of 60-minute markings. Finally, the standard Mercedes-style hands have been replaced with sword-style hands.
Image: Watch Club
Inside the case of Ref. The 5517 is powered by the Rolex caliber 1520, a simpler version of the 1530. It replaced the Microstellar regulator system with a stick regulator and the Breguet overcoil with a flat hairspring. However, this movement ran at 19,800 vph, which is higher than the 18,000 vph of Caliber 1530. It is believed that a total of 1,200 Milsubs were ever built, but approximately 180 are known to survive. But thanks to this book, we now know that Rolex produced 539 Mil-Sub Refs. 5517.
Image: Bachman & Shah
Rolex Submariner Ref. 5514
Finally, we have the Rolex Submariner Ref. 5514. Considering this is one of the famous Comex Submariners, this is also a non-civilian reference. This watch is one of the holy grail watches for many collectors. As many of you may know, Rolex has made several different watches for Comex, but this is the only one with a unique reference number.
Submariner Ref. 5514 without Comex logo on the dial — Image: Subdial
Comex name engraved on the case back — Image: Subdial
Another interesting fact is that the first Submariner 5514 released in 1969 did not have a Comex stamped dial. These models looked like regular Submariners, but had the Comex name engraved on the case back. It also has a helium escape valve (HEV) on the left side of the case for easy recognition.
Image: Bachman & Shah
The Submariner Ref. 5514 is powered by the Rolex Caliber 1520, which also powers the MilSub Ref. However, unlike the 5517, this Comex version did not have a modified bezel insert or a different handset. According to the book, Rolex produced 1,618 Submariner Ref. 5514 seconds. This means that it is the only reference in this list with a total production of more than 1,000 pieces.
Image: Bachman & Shah
But to put this in context, some of the other references from the 1960s and 70s had total production numbers in the tens or hundreds of thousands of units. This shows that these five references are actually very rare, which is why collectors are willing to spend big bucks on them.
Image: Analog/Shift
Final thoughts on the rarest steel Rolex Submariner reference
A list of five of the rarest stainless steel Rolex Submariners in Nicholas Foulkes’ new book. If you’re a fan of Rolex and especially the Submariner, this book is an absolute must-have. In addition to providing lots of practical information, it fully covers the Submariner’s great heritage. The stories and images create an excellent overview of the historical relevance of the world’s most famous diving watches. The limited edition silk binding is available from the Wallpaper* Store and the regular edition is available from select retailers worldwide. Let us know your favorite Submariner references in the comments. See you next week with a new list.
