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Watches are one of the few machines that were made 50 or even 150 years ago that, even today, can still be practical to use every day.
If you are a new collector, you will find answers to many frequently asked questions (FAQs) in the Watch Help section. web page is a good, short, introduction to what you need to know about mechanical watches.
However during recessions or as supply gets too big then the value will drop slightly.
Yet again the good news is that it will come up again. That means there is usually a steady enough demand and they are looking for the unique piece rather than a huge profit.
Elgin shipped their first wristwatch in 1910, and later manufactured the first wrist watch to be qualified for railroad service, the grade 730A B. In 1958, they introduced the "Dura Balance," an ingenious design for a free-sprung balance (no regulator pins) which used spiral balance arms and small weights to govern the moment of inertia of the balance.
They also produced the only American-made automatic wristwatch movements: grades 607, 618, 760, and 761.
I encourage everyone to join the National Association of Watch and Clock Collectors, it is a great organization where you can learn a lot about watches and horology in general.Although it is always sad to see the demise of any business, it does mean that you actually own an antique Elgin and one that will over time only ever increase in value. The average pocket watch in these recessional times has dropped in value from a few years ago.That said, they can still be worth a considerable amount of money if you have the right one. Like any product in the market place watches are also subject to supply and demand issues and how much disposable income people have available.The Elgin National Watch Company was founded in 1864 in Elgin, Illinois as the National Watch Company, and some of the organizers were later to become the some of the biggest names in the American watch industry: J. Elgin watches remain extremely popular with collectors today because they are plentiful, can be obtained at reasonable prices, and can be relatively easily repaired due to the large number of watches and parts available. Throughout their history, the Elgin National Watch Company was known for horological innovations. Mason, with financial backing from former Chicago Mayor Benjamin W. The factory for the National watch company was completed in 1866, and the first movement produced was an 18-size B. Raymond model which sold in April of 1867 for the astounding price of 5.