Yes, that's the serial number of this museum quality lap ! One of the first builds after the 'frying pan', maybe the second ?
In the late 30s this was Rickenbackers entry-level lapsteel, (they all were), but it doesnt feel flimsy or cheap at all. They were stamped out of steel but look rather luxurious with a finely textured enamel finish that looks like lace. The finish is very well preserved. The early horseshoe pickup has a similar textured cover in black, the other black parts are Bakelite and still in great shape. The ultra-low serial and the single volume control date this lap steel firmly in 1937. It is still very playable, the pickup is super strong and the hollow metal construction gives her a beautiful whiny voice. Some paint has been re-touched, but it matches.