The subject item is best identified as Illinois Watch Company 'Sterling' Grade Pocket Watch, c. 1915-1925, Early 20th Century (Art Nouveau/Art Deco Transition), Illinois Watch Company, Springfield, Illinois, USA. Independent production ceased after Hamilton acquired the company in 1928, making original Springfield-marked movements highly collectible today. The Illinois Watch Company was a titan of the early 20th-century American timekeeping revolution, operating from a massive Springfield factory complex. The 'Adjusted 3 Positions' regulation signifies superior factory tuning, elevating this model's reliability above standard mass-market consumer watches. Produced around 1922, this watch represents the final flourishing of the elegant pocket watch era before wristwatches dominated following World War I.

Direct comparable sales for early 1920s Illinois 'Sterling' and similarly adjusted pocket watches outline a clear market stratified by case material and mechanical service history. Raw, unserviced examples with unverified or gold-tone-filled cases consistently realize $250 to $260 at auction and on secondary platforms like eBay. Fully serviced examples sold through specialized horological dealers command retail premiums between $350 and $490. A gold-tone metal (untested)-tone metal (untested) comparable achieved $875; however, because our subject lacks precious metal verification, this gold-tone metal (untested) result establishes a strict ceiling rather than a midpoint. Consequently, the Fair Market Value is anchored to the 'untested metal', unserviced lane, recognizing the strong originality of the matching dial and movement.