Beyond the major revamp of 1957, the Fender Precision bass didn't actually change significantly over the next decades. However there were numerous small cosmetic changes, many lasting a few years only, that can be used to help date these basses.
The early 70s Precision has the larger 'Precision' decal, neck-plate serial number, longer G-string saddle screw, a slightly narrower 1 5/8" width at nut and the finger rest below the strings.
In February 1972, the Precision had a base price (i.e. for Sunburst examples) of $293.50. Black, being a custom color, increased the list price to $307.50. See the Precision in the 1972 Fender catalog.
This is a great playing bass with an absolute classic tone. Check out the demo videos of this bass below.
1972 Fender Precision body detail. The bass has a three-ply, white/black/white scratchplate, with chrome 'ashtray' bridge cover and handrest, and chrome control knobs. The plastic finger rest is held in place with two screws. In '72, the Precision still had this rest positioned below the strings - by 1974 this would be a thumbrest, positioned above the strings.
Reverse body view, underlining the simplicity of the design: no control panels, no body-through stringing; just a contoured body with bolt-on neck.
The larger decal of the period 1969-76 was reduced once the serial number was moved from the neck plate to the headstock. Patents numbers listed apply to various Fender innovations, including: the Telecaster's (?) combined bridge / pickup assembly (2,573,254), two electromagnetic pickups - the latter being the Precision split pickup (2,968,204 and 2,976,755), and the adjustable neck (3,143,028).
This clip shows the 1972 Fender Precision bass played through a 1964 Ampeg B15. Recorded with an Electrovoice RE-20 (left channel) and Shure SM57 (right), through a Focusrite Scarlett 2i2 interface - all highly recommended gear! In this clip, the bass is strung with (unknown) roundwounds.
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Here, the Precision is played through a 1973 Silverface Fender Bassman 100. Recorded as above, though now restrung with Labella Deep Talkin' 760FS flatwounds - great strings - not cheap, but worth every cent!