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$ Grade 162 Elgin made in 1897

jpo100

Registered User
Feb 24, 2019
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United Kingdom
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Hello,

I've recently inherited what I believe based on feedback given in another forum on this site is a Grade 162 Elgin, made in 1897 with an 18k Keystone case.

It winds up and appears to be keeping perfect time. From what I can tell the condition is excellent.

I'm not looking to sell the watch, but for insurance purposes I'd be really interested to learn its valuation.

I've attached some pictures.

Many thanks,

John

IMG_4359.JPG IMG_4360.JPG IMG_4361.JPG IMG_4362.JPG IMG_4363.JPG IMG_4364.JPG IMG_4365.JPG IMG_4366.JPG IMG_4368.JPG IMG_4370.JPG IMG_4371.JPG IMG_4372.JPG
 

Ethan Lipsig

NAWCC Gold Member
Jan 8, 2006
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As you know, you have a fine watch, but that doesn't make it extraordinarily valuable. I estimate it to be worth $1100-1400 for these reasons,

Pocket watch prices generally have been stagnant or declining.

Most solid gold watches sell for net scrap value plus a relatively small amount for the movement. For example, I bought my 14k 162 in 2010 when gold prices were about 15% lower than today. The net crap value of my case now is about $600; back in 2010 it was about $500. I paid $867 for my watch. Based on that sale, the watch without the case was worth $300-$400. That's peanuts compared to what it originally cost, in inflation adjusted dollars.

If your case weighs a little more than my case (18k weighs more than 14k), it would have a net scrap value of $800-$1000, depending on weight. Adding in $300-400 movement value, I think your watch would be worth $1100-1400. The English dial probably precludes your watch selling at the upper end of this range.

I checked on eBay to see if any 162s have sold recently to see what they fetched. None were listed. An Elgin 156, the hunter version of the 162, is on sale for $3100, but such asking prices are normally highly aspirational. In 2009, I bought my 14k 156 for $1289. Hunters have a solid metal front cover. That makes the gold value of a hunter several hundred dollars more than an open face case.
 

jpo100

Registered User
Feb 24, 2019
8
2
3
United Kingdom
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Thanks Ethan. I'm not hunting for a high valuation so appreciate your candour. $2k for insurance purposes will do nicely, thanks!
 

Jon Hanson

Golden Circle
Aug 24, 2000
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Boston, Ma.
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Nice watch and I am happy you are keeping it. Value is `900-1200, depending on the case weight. What is curious is the English dial?
In any event, insure for 2k or replacement insurance value is very safe for you.
 
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