Hello Gary,
Thank you for sending in this pocket watch to mearto.com for an appraisal. i shall do that for you this evening.
TITLE:
Gent's, full size, coin silver (perhaps nickel or stainless steel), pendant wound and set, keyless, open face pocket watch with fancy dial, made by the Waltham Watch Company, Waltham, Mass. USA circa 1910.
DESCRIPTION:
CASE: Size not known but assumed to be a full size 18, three leaf, open face pocket watch made of a white metal (steel, nickel, coin silver), with a fluted ball pendant and round bow placed at the twelve position relative to the dial. The back cover is not engraved and has no apparent hinge, indicating it will likely unscrew from the case. the bezel also would unscrew from over the dial. The inside of the back cover is not shown and it that area would usually indicate the maker of the case, the quality of the metal and the case number. None of that information is available.
Dial: Round white enameled dial with black Arabic hour chapter ring, open bar minute track with gilt designs on the periphery of the minute markers, sunken subsidiary seconds dial @6, blued-steel American type Spade hands and there is a ring of gilt floral ornaments around the base of the hands. The upper dial is printed "Waltham".
Movement: Not shown and could not be evaluated.
Condition:
Case - Fair with pitting, dark specks on the back cover and an area of rust, iron or silver oxidation.
Dial - Appears to be quite good with no dial fractures that are visible in these photos.
Movement -Will assume for this appraisal it is the correct movement for this case and is functional.
**Noteworthy - The best way to value such a watch where one cannot see the inside of the case nor the movement is to look at comparables (similar Waltham watches) and the prices they bought at recent auctions.
COMPARABLES;
~https://www.liveauctioneers.com/item/93850559_waltham-openface-stem-wind-pocket-watch-circa-1892 (Sold for 240 Canadian dollars = $190, in 2020)
~https://www.liveauctioneers.com/item/92160114_antique-waltham-gold-filled-pocket-watch (Gold filled csae and sold for $100 in 2020)
~https://www.liveauctioneers.com/item/86628505_american-waltham-watch-co-antique-pocket-watch (Gold filled case with hairline dial fractures sold for $110 in 2020)
~https://www.liveauctioneers.com/item/86628493_fancy-engraved-gold-fill-hunting-case-antique-pocket (Gold filled case sold for $105 in 2020)
~https://www.liveauctioneers.com/item/76254139_american-waltham-18s-15j-pocket-watch (White metal, silverode, pocket watch with fancy dial sold for $110 in 2019)
~https://www.liveauctioneers.com/item/66450372_waltham-1883-model-fancy-dial-pocket-watch (Gold filled case sold for $160 in 2018)
Waltham Watch Company HISTORY:
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.
PRICING: The fair market value of this pocket watch if you offered it at auction would fall into the range of $100-$120 with a retail price about twice that amount. Since it is not genuine Sterling silver and not white gold such Walthams from the early years of the 20th century do not bring much at auction because so many thousand of these watches were made and are available to the marketplace. The case could have been silverod, a Waltham name for a white metal case that has many of the white metals (zinc, lead, tin, nickel would be made into an alloy, any white metal but not a drop of silver was used by this company in a 'silverode' case. I feel the fair market value is close to the proper amount for a watch such as this.
Thank you for choosing mearto.com for this appraisal. Best of luck with your watch.
My best,
David

Hi Gary,
Thank you for contacting Mearto with your appraisal inquiry. So that I may best assist you, can you please
open the watch and tell me what is on the inside of the cover. If you see the movement, please tell me what is engraved on the movement - that would be most important.
Do you know how to open the watch??
Please let me know.
Thanks,
David