Your watch appears to have been made around 1920.
A 16 jewel watch movement was good quality during that era.
While it may not be worth a lot to a collector, I know that I wish that I had anything that had been my grandmother's.
A competent watchmaker could clean and oil the movement so that you could wear it and enjoy it.
Be aware though, that this watch, like most watches made before the 1950s is not water resistant and does not have "shock protection" to protects the watch from damage due to dropping it or accidentally banging it against something while you wear it--so you have to wear it when you're not planning to do dishes, gardening, etc.
Enjoy it!
Kate