Hello Stephen,
Thank you for sending in this pocket watch, chain and penknife fob to mearto.com for an appraisal. I shall try to help you with that today.
TITLE:
Gent’s gold-filled, pendant wound, pendant set, open face pocket watch with gilt link watch chain and gold plated penknife fob, Central model, the grade 304, made by the Illinois Watch Company, Springfield, Illinois, circa 1917.
DESCRIPTION:
CASE – Size 16 open face, three leaf watch case with a floral engraved back cover, monogrammed for the owner. There is a suppressed ball fluted pendant and shaped gilt bow placed at the twelve position. The interior of the cover reveals that the case was made by the Illinois Watch company with a gilt finish warranted to last at least 25 years (gold-filled) and the case number 10207300.
DIAL: This is a white enameled triple sunk dial with bold upright black Arabic hours, open bar minute ring, sunken subsidiary seconds dial @6, sunken dial center marked for “Illinois Central” and having Continental type steel spade hands.
MOVEMENT: This is a nickel damascened split three quarter plate movement with small finger bridges, the Grade 304, model 7 made in a production run of 1000 such movements, this one Serial number 3239856, made in 1917 by the Illinois watch company of Springfield, Illinois, 16-s, made with 17 jewels, double roller, going barrel and properly signed and numbered by Illinois and marked “Central”.
CONDITION:
CASE – Fair condition with excessive wear on the back cover.
DIAL – Fair to good with hairline fracture between 55 and 60 minute markers, spotting of the dial, some wear to the hour numerals but still a very nice triple sunk dial.
MOVEMENT – Assumed original to this case, genuine and functional.
ACCOUTREMENTS - i have assume the gold link chain, like the watch is not solid gold. The penknife as a fob is usually gold plated steel/
HISTORY:
The Illinois Watch Company (IWC) was formed by seven partners in 1869 under the name of the Illinois Springfield Watch Company. In 1879, a year they made their first nickel movement the name became the Springfield Illinois Watch Company. In 1882 they made their first mainspring in their own plant and the following year produced enamel dials for the first time. The final name change took place in 1885 when the name became the IWC. They used more names on their movements than any other company. The earliest watches bore the names of some of the original watchmaking partners on the movements and are the most valuable to collectors: e.g. Stuart, Mason, Bunn, Miller and Currier. The IWC was sold to the Hamilton Watch company in 1927. As the manufacture of watch movements developed both in quality and quantity, the American producer was quick to learn the lesson of their time, i.e. the necessity of specialization of watch movements for the use by railroad employees. The Illinois Watch Company was among the first to realize this lesson, and during the latter years of the 19th century, while not discontinuing its large output of moderate priced watches, nor abating constant effort to improve the quality of same, nevertheless sought the most highly skilled aid of workmen and inventors in producing a watch of the highest perfection. This means a watch to meet the exacting requirements of railroad service, and Illinois made a special effort in this direction by furnishing the "Sangamo" and the "Bunn", "Bunn Special", and "A. Lincoln" movements in 18 size, for the use of railroad men, so that those movements were well known wherever railroads were operated, and became the recognized standard watches for railway service.
As far as pricing, the fracture in the dial does have an adverse impact on value, as does the wear to the case. The fair market value of this example is placed in the range of $140-$160 with retail prices slightly higher, although retailers tend to avoid watches with hairlines on the dial unless they are priced quite low.
I hope that helps you understand the fine watch that you own, and understand the pricing.
My best,
David