December 07, 2008, 15:07
David AbbeVenerable and Collectible "Cheap" Hamiltons
As a student of "collectible" watches, I fail the "gold test" for spending vast sums of money buying gold coinage surrounded by a watch movement. Instead I have learned to invest in "saving" the less costly and many times equally as "scarce and collectible" Watches that are surrounded by less "meltable" metals. To learn more of this folly, I often refer to my library of Mr. Erhardt's books which provide enough detail for a well balanced understanding of the "collectability" of watches. All that said, when I recently acquired a 972L, I found that Mr Ehrhardt notes 35,562 total production of these in the period 1904-1924. My particular specimen of interest falls in the last 1/3rd of that series being a 1919 production (per Gelsens list). Further, and most interesting is that Mr. Erhardt notes in his 1981 book that the 972 has twice the "collectible" value as the early 992 (close to 800,000 made)! HOWEVER, the eBay bidders "let me take it" for $78.00!I do know that in 1919 this purpose-built RR grade watch cost "only" $25 when the 992 was sold for $40.00. A much more attractive price to a RR man making about $25.00 a week on a GOOD WEEK then. ANYWAY. This watch has all the markings and signs of being cared for that I must assume gave it a lifetime of service to a RR person, and due to that attention, it cleaned up into a still near-perfect specimen in a Nickel case. This is what makes collecting and restoring these watches all worth it!
