What doesn't appear quite correct on this movement?

To me it looks like the first run of the Lord Elgin 351, ONLY BACKWARDS! But consider the source. I don't know watches that well yet.

One other thing, when I first looked at it, I thought something was missing, but I can't figure it out. Last, what's the white item around and under the balance wheel? Or is that just the picture? Could it be the regulator?

Wish I knew.
I've been back 3 time on this one, and it's making me crazy, so I hope you guys talk about this one and give me a good read for later today when I get up.
Night,

Sheila,

What's wrong with the regulator?

How about the Balance cock with the micro regulator on a 7 jewel watch.
Brian C.

Brian,

That's it! If you look closely, you will also see that the damaskeening is different too. This was on Ebay as not running with a broken balance staff. Wonder how that could have happened?

I looked and looked and could not find this again!
Then, dahh I remembered the search option! Sometimes I wonder where my brain goes.

Well, I'm glad that the answer was here when I got here.

I did notice the difference in the damaskeening but not being real good with movements yet, I wondered if maybe some were made that way, even though I had never seen one like that before.

See, one more piece of information to keep in my notes, and my brain.

I always pick up great information in these posts. Thanks you.

Now I will have to go study balance cocks, micro regulators, and what they use on the 7J watches.

You have a sharp eye John, did you buy this watch?
Is it a Waltham regulator on that Elgin?

Sheila - This would be overlooked by the majority of casual buyers. I believe someone used two watches in hopes of getting one to run. They probably didn't know how to seperate the balance assembly from the the balance cock so they swapped both together. Also, in the description, I believe they stated the balance staff was broken. Go figure!

Kevin - I passed on this one! The balance cock is an Elgin but was used only on 15J and higher grade movements.