I have seen a Waltham with a CPR beaver crest with a serial number of about 4,000,000 and this is well below the numbers that I 'thought' were actual CPR crest watches. I know that there is some leeway with serial numbers but this movement is also a non-lever set and seems to be from about 1889.

Does this seem like it would be 'real' or is something going on with this watch?

From what I have read so far the CPR crest movements began to be manufactured in about 1897 using Waltham Model 1883 movements. By these dates it is also my understanding that these movements would have been lever set which this one is not.

Thanks for any info on this.
Ralph