The latter. I wrote about the scalloped/toothed/knurled crown in an old thread and while there are no certainties, I am pretty sure that only the thin version of the scalloped crown is correct.
@BenBagbag made
a great post in that thread showing what he had researched.
Here's a photo of three 14XXX Constellations I used to own:
The slim gold crown is the one I consider to be correct, as is the decagonal one. As decagonal crowns were replaced with Seamaster clover crowns during services, I would propose that the thin scalloped crowns were replaced with the thicker variety.