This model never had the name "Princeton" on the amp, this model was named this because it is very close to the Princeton amps to follow. The chassis was quite similar to that of the earlier K&F model.

This model´s circuitry is virtually identical to that of the Model 26 Princeton.

This model also had the same circuitry of earlier Princetons with the exception of the preamp tubes becoming 6SC7 in 1953 and 12AX7 (Model 5D2) in 1954.

Model 5E2 had a choke and negative loop (circa 1954/55). The choke was removed in 1956 and named the Model 5F2. This model´s cabinet was enlarged in 1956, which was also used for the Harvard. The Champ then used the old Princeton box.

With the introduction of the Brownface, the model was changed to 6G2. There were about 100 Model 5E2 Princetons made, which are the rarest.

Models produced in 1963 still have only four knobs (single tone knob), and some of these amps may still have the white knobs. In 1964 model AA964 was introduced with separate bass and treble controls. Around 1966, the Fender nameplate was put on the grille.

In 1970, Model AA1270 was introduced that featured a 3-way ground switch.

The Model number was AA764. In 1966, the Fender underlined nameplate is added on the grille, In 1968, the control panel was changed to silver, blue cloth, and aluminum trim was added. In 1970, a three position ground switch was added. The underline on the namplate was dropped in the mid-seventies. Around 1978, a boost-pull knob pot was added. In 1980, blackface with silver grille was re-introduced and became an option.