Greg is correct. GM did not place a serial number on the frame in 1954.

Here is information about various 1954 codes (your link to this page, above, does not work).

Here are the locations of the engine serial number and the vehicle serial number (vehicle ID). As Greg stated, these codes are different. There was no official VIN back then - the title/registration serial number might have used the engine serial number of the vehicle serial number.