Country Codes identify the initial destination after leaving the Rolex factory in Geneve. This is considered the country of origin.
Codes first appeared around 1985. While an official list has never been published by Rolex, this list is in general circulation and has been informally validated by watch industry professionals.
The 3 digit code is found at the top left of Guarantee certificates (punched papers). Around 2007 Waranty Cards were introduced with the country code appearing in the N Client field.
Of the codes in circulation, two in particular are of interest to collectors - 061 & 109. These denote a purchase direct from the Rolex HQ by Private Clients.