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In regards to gold watches, the watch cases are almost always gold or silver plated brass. A condition described as “brassing” is when the gold or nickel silver has been polished off the case so much that the “brass” is exposed. There are very few watches that have gold parts in them. The big boys like to play with the value of these watches as demand and prices swing wildly ( Due to their intrinsic value, investment grade watches are priced out of the market. ). A decent mechanical watch serves a good purpose, those after the 40’s usually have a non-magnetic balance spring.