Rolex Reference 1002

The Rolex Oyster Perpetual reference 1002 was produced from the 1950s through the 1980s. It is characterized by its 34mm case and smooth bezel and is available in stainless steel, 14k gold and 18k gold. The timepiece originally featured a robust 26 jewel calibre 1560 automatic movement. Calibre 1560 possess a Rolex p/n 7980 balance assembly with a Breguet hairspring, running at 18000 bph. Some later Rolex ref 1002s feature the calibre 1570 automatic movement. Calibre 1570 was introduced in 1965 and has a balance assembly Rolex p/n 8106 with a Breguet hairspring, running at 19800 bph. The calibre 1570 automatic movement was very popular among both dress and sports Rolex models. Unfortunately, because of the movement’s popularity, many watches from the 1960s were taken apart and their movements removed and placed in other watches. Therefore, it is becoming increasingly hard to find watches, like ref 1002, unaltered. This 18k gold watch was produced in 1974.

There were many confusion between the Rolex Air King and reference 1002. There never was an Air-King 1002. There was only the Rolex 5500 Airking. The Rolex 1002 was called the Oyster Perpetual and used a chronometer certified movement (1560) while the Rolex 5500 airking used either a 1520 or less common 1530 caliber.

The watches are both 34mm, essentially use all the same parts, except the 1002 has a caliber 1560 and is COSC, and the Rolex 5500 says "Air King" on the dial, uses a 1520 or 30, and isn't COSC. 

The confusion comes from the fact that the 5500 used case backs stamped "1002". Rolex used the 1002 caseback for just about anything using a 34mm case. The exception being the 5500 Explorer which had a 5500 caseback.