Hello David,
Thank you for sending in this gold pocket watch to mearto.com for an appraisal, and thank you for your extra effort in filling in the needed details. I shall try to help you with the appraisal this afternoon.
TITLE:
Gent’s, 14k solid yellow gold, pendant wound and pendant set, keyless, open face pocket watch, Movement Grade 220, S/N13295731, made by the American Waltham Watch Company, Waltham, Ma. USA, circa 1903. Accompanied by cloth pocket watch pouch.
DESCRIPTION:
Case: Size 12, 14k solid yellow gold, three leaf, open face pocket watch with fluted coin shaped pendant with embossed stem and triangular bow placed at the twelve position relative to the dial. The back cover is polished gold and is edged in small foliate designs. The glazed bezel around the dial continues this same type of engraved decorations. The inside of the covers reveals the case number to be 870431 and marked Wadsworth 14 Karats. The casemaker is the Wadsworth watch case company (see history) of Newport, Kentucky.
Dial: White enameled dial with black Arabic hours, open bar minute track with red Arabic markers placed every five minutes around the circumference of the dial, sunken subsidiary seconds dial @6 and blued steel American type spade hands. The upper dial is marked “Waltham”.
Movement: Size 12, damascened nickel, split three-quarter plate design, the Grade 220, model 1894, made by the American Waltham Watch Company. The movement is marked with the Waltham serial number 13295731 indicating it was manufactured in 1903 in a run of 1000 such movements, each with fifteen jewels, some in gold screw type settings. This movement is pendant wound and pendant set, bimetallic balance wheel for temperature compensation, Breguet hairspring and Church patent regulator. This regulator of the movement speed was invented by Duane H. Church, Patent Date of Feb 17, 1885 and patent number 312253. The watch has no accuracy adjustments made for changes in the position of the watch and is not of railroad grade. The plates are signed, ‘A.W.W.Co, Waltham, Mass, 15 jewels’. (American Waltham Watch Company was the name used by Waltham from 1885-1906.)
CONDITION:
Case – Moderate amount of scuffs and surface scratches, overall in good condition.
Dial – This is where the big hurt to value for this watch is found. There is a large compound hairline dial fractures between the four and five hour markers. In addition, there are hairline fractures located @ the following minute markers: 13, 19, 35, 53, 56, and 59.
Movement: There are early signs of oxidation on the ratchet and crown wheel gears, but otherwise the movement appears to be in good shape.
HISTORY:
WADSWORTH WATCH CASE COMPANY:
Born in Birmingham, England in 1845 and emigrating to America in 1857, Henry Wadsworth founded this company in 1889. H.A. Wadsworth & Co was located in Newport, Kentucky from 1889-1892 and then as the Wadsworth Watch case company of Newport until 1900 when they moved to Dayton, Kentucky until 1953. They earned a high reputation in the trade with their solid gold and gold filled cases. They sold cases to the Hamilton, Elgin and Waltham watch manufacturers. In 1953 they became a division of the Elgin National Watch Company of Illinois.
COMPARABLES:
https://www.liveauctioneers.com/item/93850565_waltham-openface-stem-wind-pocket-watch-circa-1917 (SOLD IN 2020, AFTER AUCTION, FOR 600 CANADIAN DOLLARS=$468)
https://www.liveauctioneers.com/item/82723912_14k-gold-waltham-pocket-watch (SOLD IN 2020, SLIGHTLY DIFFERENT MOVEMENT, FOR $750 WITH EVIDENCE OF HAIRLINE FRACTURE ON DIAL BUT HARD TO SEE)
https://www.liveauctioneers.com/item/64344162_waltham-14k-pocket-watchM (SOLD IN 2018 FOR $750)
https://www.liveauctioneers.com/item/64344159_waltham-14k-hunter-case-pocket-watch (SOLD FOR $700 IN 2018, IN VERY GOOD CONDITION AND RUNNING)
https://www.invaluable.com/auction-lot/a-12-size-waltham-pocket-watch-with-gold-hunting-136-c-18e45b7964# (SAME SIZE AND 15 JEWELS IN A HEAVILY ENGRAVED 14K GOLD CASE THIS SOLD FOR $750 IN 2020)
PRICING:
The problem with this watch is in the extent of dial damage when compared to other similar watches. The price required is a price if sold on the “watch” market and not into the gold market. Although the presence of 14k solid gold enhances its value on the watch market, it is not the primary determinant. (I will calculate for you the approximate value if sold on the gold market since I know the weight in grams from other similar watches (that will be calculated for you below my signature). The fair market value of this pocket watch if sold on the watch market would range from $550-$600. Although the retail price would be twice that amount, I do not think a retail buyer would invest in this watch because of the dial (our website calculates that amount automatically)
I hope you understood this appraisal clearly and why your watch fell short of the average price for such a watch with a healthy dial ($750-$850).
Thank you for choosing mearto.com for your appraisal. Thank you for your help in adding to the photos and information I needed.
My best,
David

The gold calculation for your watch is as follows:
This open face, size 12 14k gold watch weighs approximately 84 grams (54 pennyweight) X 35% (in an open face pocket watch the weight of the gold metal parts is roughly 35%) = 29.4 grams of 14k gold metal X 0.583 (14k gold is 14/24s pure gold) = 17.149grams of 24K pure gold converted to ounces = 0.604913173 ounces of pure gold X the price of gold today ($1,845.40/oz.) = $1116.30 less 15% retailer fee = $948 to you if sold into the gold market (which would destroy the watch as such)

Dear David
Thank you for contacting Mearto with your appraisal inquiry. So that I may best assist you, can you please let me know which labels belong with which watches. You sent in two watches.
I will need the diameters of each watch case.
If you are able, can you send me a legible photo of what written on the inside covers of each wat
How about a photo of the movement including the movement serial number for each watch.
That would be the basic requirements of doing a proper appraisal for each watch you submitted.
As soon as I hear from you I will get the appraisals done for you.
My best,
David