The Stovebolt Site Forums The Shop Area Interiors Ignition Switch, what’s missing from this picture?

Your switch looks just like mine (1951), and appears to be stock, the switch face looks sloppy with the gap between it and the dash hole, but this small circular space around the switch face is there to allow the light from the ignition switch light (behind) to illuminate the ignition switch face when the headlight/parking lights are turned on. Putting on a bezel would clean up the appearance but would render the light feature useless.