Hello Keri,
Thank you for sending this family pocket watch in to mearto.com for an appraisal. I shall try to help you with that today.
TITLE:
Gent’s, 18 size, 14k gold-filled, keyless, pendant wound and lever set, savonette, hunting case pocket watch, Grade 82, the ‘G.M. Wheeler’ model, S/N 5757307, made by the Elgin National Watch Company, Elgin, Illinois, circa 1895.
DESCRIPTION:
CASE – Size 18, four leaf, 14k gold-filled hunting case pocket watch with a missing fluted ball pendant and round bow (bow present) placed at the three position (savonette) opposite the case hinge. The outer covers are not shown but the inner cover has the ‘scales of justice’ with ‘crown’ logo of watch casemaker James Boss, indicative of a 14k gold-filled case with the gilding guaranteed to last at least 25 years. The pocket watch is attached to a most unusual short balustrade or fence-like silvered watch chain with fob.
DIAL – This is a round white enameled dial with Roman hours, bar minute track with red Arabic markers placed every five minutes along the edge of the dial. There is a sunken subsidiary seconds dial @6, steel American type ‘Spade’ hands and the upper dial signed,
“Elgin National Watch Company”.
MOVEMENT – This is a Size 18, full plate, grade 82 (‘G.M. Wheeler’), model 3, Class 4 movement, made by the Elgin National Watch Company, Elgin, Illinois, serial number 5757307, made in 1895 in a run of 1000 such pieces, and made with either 13 or 15 jewels some of them in screw settings, pendant wound and lever set with a going barrel, quick train, Moseley regulator with a baton which can be moved to make the movement run either faster or slower.
CONDITION:
CASE – The outer covers are not seen but it will be assumed they are in at least good condition.
DIAL – no obvious fracture seen but a small chip at the 36 minute marker.
MOVEMENT – Appears to be genuine and original. If there was a pendant it would most likely run. The lack of a pendant of course hurts the price of such a watch.
HISTORY:
Elgin History: The Elgin National Watch Company was founded in 1864 in Elgin, Illinois as the National Watch Company. In 1874 the name was changed to the Elgin National Watch Company. Between 1864 and sometime in the 1960s, Elgin manufactured tens of millions of pocket and wrist watches. The Elgin National Watch Company was for a time, one of the largest industrial concerns in the world. Elgin pocket watches from the early years are particularly interesting because of the methods and philosophy of the Elgin Company. Elgin used what were at the time quite advanced tools, techniques and labor practices to achieve a very high quality product, in high volumes, at a relatively affordable price. Elgin watches were created using mechanized, repeatable processes, organized quality control and standardized, interchangeable, parts. These things are all common practices in industry today, but not so at that time. The result was a product of high quality made in large quantities that dwarfed that of Elgin's competitors. Prior to Elgin's time, watches were made completely by hand, frequently by a single craftsman, from start to finish. Repairs could only be completed on such watches by someone with sufficient skill to fabricate replacement parts, from scratch, from raw material. Elgin watches on the other hand, were mass manufactured and highly standardized. Spare parts were provided by Elgin that were drop-in replacements for the originals. Elgin was extremely successful with this strategy. In fact, the company introduced more than half the watches made in America from 1920-1928. An Elgin advertisement in 1928 claimed that there were more than 14,418 retail jewelers in the United States and all but 12 carried Elgin.
PRICING:
Actually 155,000 of these exact movements were made and the sales data for pricing are more than adequate since many have been sold at auction. The fair market value range of this watch in good to average condition but not functioning is what I have to provide for you and that would fall into the $100-$140 range. Actually the watch in running condition would only add another $25 to its overall value, so likely not worth repairing it. However, since it is a family piece you should probably just put it away somewhere safe.
I hope that helps you to understand the pocket watch a bit better.
Best of luck.
My best,
David