This ref. 5301 with arabic numerals on a silver dial is special, because most ref. 5301 have enamelled white dials with roman numerals, like the most models of modern IWC pocket watches (PWs with shock protection).
The second photo shows it.
Only silver dials were used for the military version of the ref. 5301 BUND (only aprox. 50 watches).
I could not find this silver dial variant in any catalogue yet ?!
And this ref. 5301 has a uncommon cal.: C.972V
I think the C.972V was an interim number and was later corrected to C. 9720 ?!
So, the "V" could stand for "vergoldet" (German) => gold plated.
Well, I have the variant with the white dial too, but this dial has that special Deck Watch style.
As far as I know, the ref. 5301 and the ref. 5215 are the only IWC PWs with fully brushed cases.
All others are polished, or just the case back is brushed.
Regards
HEBE