This variant of the first Grand Seiko is by far the most commonly found in the market today.
Going by the case serial numbers, the first examples of the raised logo SD dialed “First” date from June 1961, with the latest examples being produced in August 1963.
The dial code on this reference is GSJ14H156E-SD. All examples of this variant should have flat hands, but the case-back medallion will be different depending on date of manufacture.
From the database of Grand Seiko “Firsts” that we have built up, it would seem that the change from early to late medallions took place at the beginning of 1962. All watches from 1960 and 1961 that we have seen have the early medallion, and all watches from February 1962 onwards have the late version.
We have only seen a single example of a watch manufactured in January 1962, and it has the early medallion. It is possible that there was some over-lap around this time, and that watches with both types of medallion could be found around the turn of the year.
We currently have examples of this reference available for sale, which can be found at the following links –