You have an interesting arrangement but as long as it works I guess all is well. On yours the copper or brass contact on the wire looks to be on the opposite side of the steel contact plate in your top photo. With the exception of the emblem attachment and mounting screws holding the horn assy to the wheel going in from top rather than bottom, I believe the rest of the 48-54 ring is essentially the same as the 47. On other cars the wire, insulator washer, plus soldered or crimped on copper contact stay in the shaft unless the wheel is going to be removed.
Some time back someone made the good suggestion of tying dental floss to the wire and pulling both thru the shaft then cutting the string and letting it stay in the shaft. That suggestion makes for an easy replacement as you just tie the string back on the wire and pull both down. With that arrangement, when going back together the steel contact plate portion of the horn ring assy is on top and the copper contact is above the insulating washer and sort of pressed to the bottom of the steel contact for the connection.
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