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Breaking up the code we get: 5 = code for Precision Bass 291 = batch or lot code? Break it into pieces: 22 = code for Stratocaster 384 = batch or lot code?
2 = February 9 = 1969 B = 1 5/8 inch neck width (correct for a ’69 P-Bass). 10 = October 9 = 1969 B = 1 5/8 inch neck width Exceptions do exist.
To clarify, a neck would have one or the other type of stamp… It is not known why Fender used two completely different systems at the same time.
However, the interpretation of the two date code systems appears to be relatively straight forward and the conclusions were confirmed by pickup dates and pot dates in most cases.
The date from 1969-71 stamped codes can be extracted by working from the outside inward.
For example, let’s take Telecaster Thinline (s/n 272207) with the code: 3320119B. This appears to be the same neck width code that Fender had been using since 1962.
The Japanese-made Fenders do have some slight serial number differences (typically a "J" serial number prefix). I believe this was a mistake on Fender's part using the same prefix for both U. Below are some examples of letter prefixes used in recent serial number schemes.
Japanese Serial Numbers on Peghead Decal Note the lack of S, E, N series.