It's a 1947. The 47 and 48 had the script tank logo but the 48 changed to SW gauges and warning lights with a speedometer drive off the front wheel instead of the rear as the previous years had. The 1948 speedometer cable runs in front of the right front fork. Don't see that in the pic.
Since were talking about '47 Chiefs, got a lead that there maybe a 47 barn find selling for $16,000, supposed to be original and in good condition hope to get over there Friday to check it out and get some pics, hope to buy if actually in OK condition. Unknown if has title. Don't know how to tell wifey, may end up buying her a new car in trade to keep her quite, Had her on hold to not spend the money right now for a car, but may be worth
a car to get the bike, got the '15RM, '36 Chief restored, '47 work in process no motor, '42 Pony Scout with side car work in process , why not a 5th bike need to sell 2 others that that don't ride anymore.