I Need Some Help With This Elgin Please.

Evitzee · Apr 12, 2020

Canuck
A quick scan of the replies to your post to this point seems to have ignored the fact that the case on your watch is 10 karat solid gold alloy. Scrap value of the case alone exceeds the dollar figure stated as the value of your watch! Only you know whether there is value in having it serviced. Get a quote and decide if having it in good running order is worth it to you. I suggest value of the karat gold case should be factored into your decision. Your next question.....what would the scrap value of the case be? Have it weighed and get an offer.

Cases of this era are pretty light and after factoring in it's only 42% gold and considering you only get about 80% of that value from a scrap dealer there is not a whole lot of value in the scrap price. But the OP can weigh it and get an offer to help make a decision.

Walrus · Apr 12, 2020

So far I’ve only restored one watch that cost me to make proper than the value of the watch and that was my grandfathers 1940 bulova. That of course was worth every penny. I had to hunt down a working movement then have that movement serviced. I would do it again for an heirloom piece of course and I might do it if I came across something I really liked that was unique enough to do so. So if you really like the watch and don’t think you will run into a nicer one anytime soon do it up omegaman, if not put it aside as plenty of watches are out there that require your attention and money.

coronado · Apr 12, 2020

Evitzee
Cases of this era are pretty light and after factoring in it's only 42% gold and considering you only get about 80% of that value from a scrap dealer there is not a whole lot of value in the scrap price. But the OP can weigh it and get an offer to help make a decision.

Actually it's 14K , not 10K.

I've had this model before and my best recollection is that the case is around 9 or 10 grams.

Canuck · Apr 12, 2020

You are so right @coronado . It is 14 karat, not 10. @Evitzee states that there is not much gold value in the case. Put it this way. Compare the values this watch might be said to have when comparing a 14 karat gold alloy case with the same watch if it was only gold filled. He needs to do three things. Get an estimate on the repair, then get the case weighed and see what a scrap gold dealer might offer, then check eBay to see what similar watches have sold for. Then, make up his mind. We can postulate all we like on what would be the right thing for him to do. I suggest he DO something!

coronado · Apr 12, 2020

These Lord Elgins are great, high-quality watches. Even so, sometimes they don't bring much of a premium over their gold value.

There was a Duncan that sold on eBay in February for $262.

Nonetheless, sometimes people see value in restoring a watch they rescued, even if the same watch could be found elsewhere for less.

Canuck · Apr 12, 2020

coronado
These Lord Elgins are great, high-quality watches. Even so, sometimes they don't bring much of a premium over their gold value.

There was a Duncan that sold on eBay in February for $262.

Nonetheless, sometimes people see value in restoring a watch they rescued, even if the same watch could be found elsewhere for less.

I have a chrome plated Certina automatic, 1950s vintage. Bought at a fam yard sale. The seller asked 50 cents for it. I paid $2.00. I spent close to $200.00 out of pocket, not including my labour. Why, you might ask. I liked it! And asking on the MB whether it was worth doing all that to a watch that not likely would even be worth what I have in it would not have changed my mind. Do it, or don’t do it! You are the only one that can judge if it is worth it......to you!

SportChief · Apr 12, 2020

If the watch was acquired cheaply, or free, I think it would make a lovely and high-quality timepiece once serviced. These watches are very undervalued by collectors. If this were an Omega, it would be selling for many times what collectors would currently pay for it. I might get rotten tomatoes thrown at me, but a Lord Elgin was just as high quality as a manual-wind Omega from the same era.

Looking at the markings on the case, it appears to have also been made by the Star Watch Case Co., which was one of the finest American makers of watch cases during the 20th century. They made for many companies including Hamilton, Longines, LeCoultre, and Omega amongst others.

Canuck · Apr 12, 2020

+1

This image is from my photo files. It is not likely (probably, definitely) not the same movement as the movement in the subject watch, but it is likely of about the same vintage. The quality of the U S A made Elgin movements shows, I feel.

VetPsychWars · Apr 12, 2020

As you can see, no Elgin wristwatch is expensive except the military models. The Lord Elgin is their highest grade of wristwatch. Once cleaned, adjusted, and regulated, it will keep very good time for you, if you choose to wear it.

Tom

Evitzee · Apr 12, 2020

Even if the OP doesn't want to put money into an overhaul I always hate to see old gold wristwatches torn apart and the cases sold for scrap value. Better to just keep it as a symbol of the past, or sell it to someone who will hopefully restore it.

VetPsychWars · Apr 12, 2020

Evitzee
Even if the OP doesn't want to put money into an overhaul I always hate to see old gold wristwatches torn apart and the cases sold for scrap value. Better to just keep it as a symbol of the past, or sell it to someone who will hopefully restore it.

I completely agree... but economics be damned, if you are going to keep and wear a watch, get it serviced! Over the lifetime of a mechanical watch, and with proper service at regular intervals, that is more than one human lifetime, you will spend much more than the watch is worth.

Tom

wagudc · Apr 12, 2020

VetPsychWars
I completely agree... but economics be damned, if you are going to keep and wear a watch, get it serviced! Over the lifetime of a mechanical watch, and with proper service at regular intervals, that is more than one human lifetime, you will spend much more than the watch is worth.

Tom

Plus you are preserving and enjoying a piece of American watchmaking history.

Professor · Apr 12, 2020

A watch that sold for $100 back in those days would be at least the equal of a $1,000 watch of today. That is my opinion anyway.
It will never be worth less than its Gold scrap value and that could double at any time.
You might invest more than its current market value and still come out way ahead a few years from now while enjoying wearing an elegant piece of history on your wrist in the mean time.

UncleBuck · Apr 12, 2020

Sometimes, I just can't let something die!

I have an old bumper in for a service that makes no monetary sense but damn!.....it's a friend and I can't let it go gentle into that good night.

Value can have different meanings depending on one's circumstances.
It may not be worth it to your wallet but might be to your heart.

Is this a wallet only decision, or is the heart involved?

TheNewOmegaMan · Apr 12, 2020

UncleBuck
Sometimes, I just can't let something die!

I have an old bumper in for a service that makes no monetary sense but damn!.....it's a friend and I can't let it go gentle into that good night.

Value can have different meanings depending on one's circumstances.
It may not be worth it to your wallet but might be to your heart.

Is this a wallet only decision, or is the heart involved?

I will be getting it serviced and adding it to my collection. It was one of my grandfathers watches plus, after some research, I found out the history of Elgin and I think this is a fantastic piece of American history. It will definitely not be for sale. 😁

Thank you all for your replies. I actually didn't know this thread was still going lol. Getting it serviced shouldn't be too expensive. The thing actually runs fairly well still.

Canuck · Apr 12, 2020

TheNewOmegaMan
I will be getting it serviced and adding it to my collection. It was one of my grandfathers watches plus, after some research, I found out the history of Elgin and I think this is a fantastic piece of American history. It will definitely not be for sale. 😁

Thank you all for your replies. I actually didn't know this thread was still going lol. Getting it serviced shouldn't be too expensive. The thing actually runs fairly well still.

Keep us posted. I’m a sucker for investing more in a watch than the market says it is worth. Dealers can’t afford to do that. Hobbyists can. Sometimes you are walking a tight rope as to whether to fix or shelve a watch. Remember that money spent fixing watches comes out of the budget available for buying watches. Seeing as there is a sentimental connection to the Elgin I think you have made the right decision.

Walrus · Apr 12, 2020

TheNewOmegaMan
I will be getting it serviced and adding it to my collection. It was one of my grandfathers watches plus, after some research, I found out the history of Elgin and I think this is a fantastic piece of American history. It will definitely not be for sale. 😁

Thank you all for your replies. I actually didn't know this thread was still going lol. Getting it serviced shouldn't be too expensive. The thing actually runs fairly well still.

Oh it is your grandfathers, yes definitely get it going it’s not like he will be giving you many more

samthebutcher · Apr 16, 2020

fun fact about elgin- the only US manufacturer that produced a free-sprung movement. also, and I've gotten into arguments about this, the only US manufacturer to produce automatic movements. some claim bulova did, but I haven't seen compelling evidence to support any idea other than they assembled automatic movements made by the swiss.

VetPsychWars · Apr 16, 2020

samthebutcher
fun fact about elgin- the only US manufacturer that produced a free-sprung movement. also, and I've gotten into arguments about this, the only US manufacturer to produce automatic movements. some claim bulova did, but I haven't seen compelling evidence to support any idea other than they assembled automatic movements made by the swiss.

I Googled and it seems that the 23-jewel selfwinding movements, at least some, in the 1950s, were American made. But "American Made" back then meant at least 50%, so you're probably not wrong, either.

Wonder if there are any decent books? As an aside, I wanted a US-made Hamiton auto myself but I don't know if they made any of those, either.

Tom

samthebutcher · Apr 16, 2020

Elgin produced 4 auto calibers: 607, 618, 760, 761. the first two were bumpers, the second two, full rotor.

they were entirely made in the US.

hamilton did not manufacture an auto. eventually, they imported swiss auto movements. interesting factoid- they seemed to have imported eternamatic movements before the ball bearing technology was made available to ETA. I have no hard figures for this, just observation.

but hamilton was placing their eggs in a substantially different basket during this time- the electrics.

I Need Some Help With This Elgin Please.

Evitzee

Walrus

coronado

Canuck

coronado

Canuck

SportChief

Canuck

VetPsychWars

Evitzee

VetPsychWars

wagudc

Professor

UncleBuck

TheNewOmegaMan

Canuck

Walrus

samthebutcher

VetPsychWars

samthebutcher

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