Ditto ULF re Steve's idiosyncratic view of gold cap
Gold cap (think rolled gold) in original finish and not polished badly is a sight to see. More than 200 and up to 250 microns microns of gold is fused to case and lugs (around ten times that of gold plate) and so if you like a gold watch as a more dressy piece, it's worth trawling for one that has it's original radial brushed finish and polished facet on the case sides and lugs.
Bezels in most gold capped cases are 14k solid. I would expect a 14k gold capped C-shape to last a 100 years of moderate wear without getting to base metal.
For 1500, you should get SS or gold cap in mintish condition with box and papers and with brickwork bracelet. Now that would be a sight to see.
Cheers
Desmond
Edited by a mod Jul 10, 2021