The numbers simply represented the two-digit year in which the watch was produced.
Therefore, the code "III 53" would represent the 3 quarter (i.e.
Thus spelling out the word "ROLEX" with the "O" being omitted, to help avert any possible confusion with the number "0".
This sequence continued through November 1991, when a new numbering system was introduced utilizing the letters N, C and S, which took them through 1993.
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