Here is the information from the pocketwatchdatabase site.
https://pocketwatchdatabase.com/search/result/hamilton/P23267
I believe the model 23 and other military Hamiltons also came with chrome plated cases. The sterling one (the subject watch) is indeed desirable.
Did they start with silver and then switch for cost savings for later runs?
4801327?
The Meggers & Ehrhardt “Blue Book” lists 4801327 as 12-size, medium grade, pendant set, double roller, gold beveled and polished centre wheel, adjusted to temperature, 6 positions, isochronism, medium striped pattern, nickel plates, jewels in settings, patent regulator, black filled engraving open faced model 3, grade 405. The grade 405 was Illinois’ highest production 12-size grade with over 400,000 produced. Also seen engraved with “Autocrat”. The grade 405 was extensively used in private label watches.
Not rare, not railroad grade, 12-size models are not extremely popular among collectors. This model introduced circa 1922, but this example was made circa 1927-28. Ten karat gold filled Fahy’s Montauk case. Watch appears to be in average to good condition. Very attractive movement.
The “Blue Book” indicates that some were marked adjusted (yours), and others were marked 6 position. I believe Bill Meggers.
I might explore it further with the seller as I have dealt with him before and might get a much better price (asking NZ125.00) the kicker being year of manufacture is the same as my new to me vintage Austin car 1928.
I believe the model 23 and other military Hamiltons also came with chrome plated cases. The sterling one (the subject watch) is indeed desirable.
I always thought .925 was sterling silver and .800 was coin silver. But I have been wrong before.