Hello David,
Thank you for sending in this pocket watch to mearto.com for an appraisal. I shall try to help you with that today.
TITLE:
Gent’s, Art Deco era, size 12, gold filled, pendant wound and pendant set, keyless, open face pocket watch, movement grade 250 (aka-Premier grade), S/N 25595676, made by the Waltham Watch Company of Waltham, Massachusetts, circa 1926. Accompanied by leather drawstring watch pouch.
DESCRIPTION:
Case: size 12, gold filled, open face watch case with a fluted coin shaped pendant, and triangular bow with embossed stem placed at the twelve position relative to the dial. The dial bezel and the back cover edge is ornamented with small foliate and floral designs. The interior of the back cover contains the case number 11217318 and indicates that the case was made by the Keystone Watch case Company of Philadelphia (see History) using the James Boss method of making gold filled cases. This case has a gold finish guaranteed by Keystone to last a minimum of 25 years and that is indicated by their logo of the scales of justice with a crown above.
Dial: A matte silvered dial with bold upright enameled Arabic hour chapter ring, closed bar minute track to the outside, satine silvered subsidiary seconds dial @6, gilt ‘Antique Breguet’ hands, and the upper dial signed in print, ‘Waltham’. The round dial center is edged in a white braided rope design.
Movement: This is a damascened nickel bridge-plate movement with the half plate having exposed crown and ratchet wheels, broad curved center wheel bridge and small finger bridge movement known as the Premier Grade or Grade no. 250, model no. 1894, made by the Waltham Watch Company, Waltham, Massachusetts. The serial number is 25595676 indicating the year of production as 1926 and was made in a run of 5000 such movements, all size 12 with 21 jewels, some in gold screw settings. The movement is pendant wound and set, uses a Breguet hairspring and is adjusted to run accurately in at least five different position. The movement is signed Waltham USA with 21 jewels, 5 adjustments and the serial number.
Condition: Case – Appears to be in good to very good condition with some minor scratches. Dial – The dial is good to very good with some dark patchy oxidation in the subsidiary seconds dial.
Movement – Appears to be in very good condition. Overall in good to very good condition.
HISTORY:
~KEYSTONE WATCH CASE COMPANY:
In 1853 Randolf & Reese Peters were making watch cases in Philadelphia, employing James Boss in their movement department. In 1859 - J. Boss received a patent for "spinning up" cases made of "gold-filled" type material. That is, material made of a sheet of composition metal (usually brass) sandwiched between two thin sheets of gold. Boss formed cases by rolling sheet metal as opposed to the traditional method involving soldering and cutting. Rolling increased the molecule density of the metal. His patent, No. 23,820 of May 3, 1859, revolutionized the watch case industry by enabling the production of not only less expensive, but considerably stronger cases. ... Unlike gold washed cases, which were made using electroplating, cases produced by means of rolling had much harder gold surfaces and were thus less apt to wear. In 1871 Boss sold patent rights to John Stuckert of Philadelphia. By 1875 - T.B. Hagstoz & Charles N. Thorpe at 618 Chestnut St. Philadelphia purchased the "J. Boss" patent from the estate of John Stuckert. Hagstoz & Thorpe seems to have made only gold-filled cases using the J. Boss patented method. Orders increased so rapidly that larger quarters became necessary immediately. A new plant on Brown Street was erected. In 1877 the E. Tracy case company, a manufacturer of solid gold and silver watch cases, was acquired. In 1880 - the company moved to a six story building on Nineteenth St., with an equal-size annex on Wylie St. Between 1883 - 1885 - T.B Hagstoz withdrew from the company which became C.N. Thorpe Co. and shortly thereafter it was reorganized as the KEYSTONE WATCH CASE COMPANY. The firm was producing 1,500 cases per day by 1889. By merging with and purchasing other watch case and watch making companies Keystone, by 1911 was the largest watch case company in America.
~ WALTHAM WATCH COMPANY:
This American company was the first to produce watches by the machined use of interchangeable parts. This was the vision of the founders of the company; Aaron Dennison, David Davis and Edward Howard. The initial company was located at Roxbury, Mass. in 1851, and was called the Warren Manufacturing Company. The business moved to Waltham, Ma in 1854 and the name had just been changed to the Boston Watch Company. That business failed in 1857 and was sold at a sheriff's sale, reorganized and called Appleton, Tracy and Company. In 1859 the Waltham Improvement Company merged with Appleton, Tracy to form the American Watch Company. Between 1859 and 1885 the firm operated under that corporate name. These early watches were key wound. Stem winding was introduced in 1870. The last key wound watches were produced in 1919. In 1885 the name was changed to the American Waltham Watch Company. In 1906 it became the Waltham Watch Company and in 1923 the Waltham Watch and Clock Company. Production ceased in 1950.
COMPARABLES:
~https://www.liveauctioneers.com/item/95310605_1928-waltham-1235-17-jewel-open-face-pocket-watch (17 JEWEL VERSION OF THIS WATCH SOLD IN 2020 FOR $80)
~https://www.liveauctioneers.com/item/69660550_waltham-art-deco-gold-filled-pocket-watch (TWO WATCHES, one Waltham ART Deco era sold for $175 in 2019)
~https://www.liveauctioneers.com/item/70161651_waltham-art-deco-open-face-pocket-watch (18k gold filled in size 10 sold for $100 in 2019)
PRICING:
With the pocket watch market continuing its two decade slide the demand for gold filled cases is not strong unless there is something exceptional about the movement or dial. I think if offered on the watch market at this time, the fair market value of this example, being in good to very good condition would range from $110-$130. Art deco era watches bring stronger prices than many similar Walthams made before or after that special era.
I hope this helps you with the valuation of your watch. Thank you for using mearto.com for the appraisal.
My best,
David

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

Thanks