I have been asked so many questions about the Elgin gold pocket watch value so I thought I would try and help as much as I possibly can. There is no way that I can give anyone an exact or accurate value for a watch as that can only be done a full and detailed evaluation.
To do that you need to have the pocket watch in your hand and be able to examine the condition of the watch, determine if it is working or not and then start to investigate such things as the serial number on the movement and from that you can determine the age of the watch. All of these will eventually determine the true value of your watch and the prices vary greatly from $25 to thousands of dollars.
The Elgin antique watch is like any antique in that as a general principle the older it is then the more value it will have. If it is in working order then this will also increase its value. Similarly if it is in excellent condition then the value will increase. If it is in its original box the value will increase and if it has associated paper work then the value will also increase.
Most Elgin gold pocket watches are 14K or 18k gold, so your worst case scenario is that you have the actual gold value. Right now gold has a very high buying price so at least you will have the value of that. It is around $51K a kilo for gold at the moment and that is a really good price. I have never seen gold as high as it is now and that is always your fall back position.
I have advised people visiting my website to check the watch serial number on the movement to determine the age and a few people have asked me how you do this. Have a look at the video below as this lady gives an excellent appraisal of how you go about checking your own watch.
The important thing about any Lord Elgin gold pocket watch is that there are two serial numbers and as you can see from the video the one in the case has actually no relevance to the value of your watch.
The only one you should look at is the serial number on the movement as that will determine the year your antique watch was actually made. Then click on the serial number link above and you can find out the year and how many were made in that year.
After that it will come down to the condition and if it is a working model. The lady in the video stated her watch was valued at $450 and she is spot on. Always remember there are many variants in a market and they all depend on supply and demand. These vary from time to time and always go up when the economy is good.
So to summarise the following are important:
- Gold Type
- Number of Jewels
- Type Of Movement
- Working Condition
- Actual Condition
- Original Box
- Original Papers
- Market Supply and Demand
I would also recommend reading my article on Elgin pocket watch appraisal as that will give you some really good methods of evaluating your Elgin gold pocket watch.