Old Pocket Watch Value: What Is an Antique Pocket Watch Worth?

Most old pocket watches are worth roughly $40-200. The typical inherited pocket watch is an American Elgin, Waltham, Illinois or Hamilton from between 1890 and 1940, in a gold filled case, with 7 to 17 jewels. Those were made by the millions and sell steadily but modestly. The ones worth more fall into three groups: watches in solid gold cases, where the gold alone sets a floor of several hundred dollars or more, railroad grade movements like the Hamilton 992B or Illinois Bunn Special, and high-end makers like Patek Philippe, Vacheron Constantin or fine Swiss repeaters and chronographs.

The good news is that a pocket watch tells you a lot about itself once you open it. The movement carries the maker's name and a serial number that dates it to the year, and the inside of the case lids is usually stamped with the case maker and the gold content. Those two stamps answer most of the value question before anyone looks at the dial.

After that, condition and whether it runs move the price within its bracket. A clean, running watch with an undamaged porcelain dial sells for clearly more than the same model with a cracked dial and a broken staff.

How to open a pocket watch safely

Most pocket watches open in one of three ways:

• Snap back: a lip on the edge of the back cover. A fingernail or a thin plastic tool lifts it off.
• Screw back: the back unscrews counterclockwise. Grip it with a rubber glove or a jar opener pad.
• Hinged back and inner dust cover: hunter cases and many open face cases have a hinged outer lid and a hinged or screwed inner cover.

Never force a cover with a knife. If it does not open easily, a watchmaker can do it in seconds, and a scratched case lowers the value.

Reading the movement

The movement is the mechanism under the back cover. It usually carries:

• The maker's name, such as Elgin National Watch Co., American Waltham Watch Co., Hamilton Watch Co. or Illinois Watch Co.
• A serial number, engraved on one of the plates.
• The jewel count, often stated as "17 Jewels" or "21 Jewels".
• Adjustment markings, such as "Adjusted 5 Positions" or "Adjusted to Temperature".
• A grade name or number, like "Bunn Special", "992B", "Crescent Street" or "B. W. Raymond".

Dating by serial number

Elgin, Waltham, Hamilton and Illinois all kept production records, and published tables match serial ranges to years. An Elgin with serial 15,000,000, for example, dates to roughly 1910. The same serial lookup usually tells you the grade, the size and the jewel count, which is how collectors confirm that the movement is what it claims to be.

The serial on the movement is the one that counts. The case has its own serial from the case maker, which does not date the watch.

Jewel count

Jewels are synthetic or natural rubies that reduce friction at pivot points. More jewels generally means a higher grade:

• 7 jewels: basic grade, common.
• 15 jewels: mid grade, very common.
• 17 jewels: good grade, common in quality watches.
• 19, 21 and 23 jewels: high grades, often railroad watches.

A higher jewel count alone does not make a watch valuable, but it is the first sign of a better movement.

Case metal marks

The case often matters as much as the movement, and it is where most confusion starts. A gold colored case is usually not solid gold.

• Solid gold: stamped "14K", "18K", "0.585" or "0.750", often with a karat mark and no mention of years or "filled". A 14K hunter case can hold enough gold to be worth several hundred to over a thousand dollars by weight alone.
• Gold filled: a layer of gold bonded over base metal. Look for "Gold Filled", "G.F.", "Warranted 20 Years", "25 Year" or brand names like Keystone, Wadsworth, Dueber and Crescent. A "20 year" stamp means the maker promised the gold layer would last that long. It is not solid gold.
• Rolled gold or gold plated: thinner layers, common on cheaper and European watches.
• Coin silver, sterling or 0.800 and 0.935 silver: silver cases add some melt value.
• Nickel, base metal or "silveroid": worth little on their own.

The inside of the back lid and the dust cover carry these stamps. For more on reading karat and fineness marks, see our guide to old gold jewelry.

Railroad grade watches

From the 1890s American railroads required watches that met strict standards after timing failures caused accidents. A railroad grade watch is typically:

• 16 or 18 size, open face, with the crown at 12 o'clock.
• Lever set, meaning the time is set by pulling out a small lever under the crystal, not by pulling the crown.
• 17 jewels or more, often 21 or 23.
• Adjusted to temperature, isochronism and at least five positions.
• Fitted with a clear dial with bold Arabic numerals.

Well known railroad grades include the Hamilton 992 and 992B, Hamilton 950, Illinois Bunn Special and Sangamo Special, Elgin B. W. Raymond and Father Time, Waltham Vanguard and Crescent Street, and Ball Watch Co. models. These usually sell for $300-800 in good running order, more with original papers or in a solid gold case.

Key wind vs stem wind

• Key wind watches have no crown for winding. A small key fits into a hole in the back or the dial. Most date before about 1880. Their age is interesting, but ordinary key wind watches, especially Swiss and English ones in silver cases, often sell for $50-250.
• Stem wind watches wind by turning the crown. They became standard in the 1880s and include almost every inherited American pocket watch.

Age alone does not create value. A rare early American key wind watch can be worth more, but many 1860s and 1870s watches are common.

Condition and running

What collectors look at:

• The dial: original enamel (porcelain) dials crack and chip. Hairline cracks lower the value, and large cracks or missing pieces lower it more.
• Running: a watch that runs and keeps time sells for more than one that needs service. Do not overwind a stopped watch; a broken mainspring or balance staff is common and costs money to fix.
• The crystal and hands: replacements are normal and only matter slightly.
• Case wear: gold filled cases that have worn through to brass at the edges are worth less.
• Originality: a high grade movement in a mismatched or later case is common and can affect value.

A service from a watchmaker often costs $150-300, which is more than many 15 jewel watches are worth.

Rough values for old pocket watches

Approximate prices in USD, running, in decent condition:

The gold value of a solid case depends on the current spot price and the weight of the gold, which a jeweler can weigh. For other watches you may have inherited, see our guide to inherited watches.

What to photograph for the best read

• The dial straight on, without glare.
• The movement with the back open, sharp enough to read the maker and the serial.
• The inside of the back lid and the dust cover, where the gold stamps are.
• The crown and bow from the side.
• The edge of the case if gold may be worn through.