I finally ran into a magnetized watch. Whats strange is it was a 18s 17j Waltham guild movement. The balance was free, and would rotate once, then stop like magic in the same spot. I cleaned it and it still did it. A trip through the demagnetizer and its running like a champ with the balance rotating freely and spinning like a champ.
Is this more common than I think? Have I just been lucky that it hasn't shown up before?

Jim, Every watch we work on should be de-magnetized first.

Too many watches are only slightly magnetized and create the "timing ghosts" we think are being caused by some other "magic".

I have watches that came in so magnetized that the balance wheel will act like a compass, and others where the hairspring sticks to the balance wheel cross arms.

I had an 0 size south bend I put thru the ringer multiple times thinking the hairspring or staff had an issue. I brought it out and put it away multiple times over about a years time period before I finally tried demagnitizing it. to say the least, it took right off and was keeping time... It is definitely something I check on watches now.

I have added it to the list of things to do in all watch cleanings. I have an old demagnetizer I bought awhile back on ebay for $9 because my favorite tweezers were magnetized. It will get a lot more use in the future.

Thanks for the tip I just "fix" my Illinois
$12 well spend.