In conclusion, here is an example of what, in my opinion, is a perfect watch to collect - especially if you are on a tight budget.
The New South Wales Government Railways (NSWGR) was the department in charge of the NSW Government's railways from 1855 to 1972. After a major railway incident that occurred in the US, the NSW Government ordered that every train driver and station master to be issued with a precision time-keeper - a pocket watch. Batches of railroad watches were ordered from the American Watch Company - Waltham, Massachusetts as the NSWGR expected only the best railroad watch money can buy for their staff.
Every issued pocket watch in NSW had its individual number engraved on the case back and some examples also had the owner's name. In addition, train drivers were also issued with a gun, bearing the same number as one engraved on their watch. Indeed, those times were turbulent.
Here is a photo of the NSWGR pocket watch from the year 1901.
Since my arrival in Australia, I have personally worked on not more than 3 or 4 examples of the NSW issued railroad watches for overhaul purposes. As you might imagine, those time pieces are fairly rare nowadays, but those who know what they are looking for can still find good working examples of the NSW issues railroad watches.
But that is not all: If luck is on your side, you might even find one NSW GR watch for under $500! So what more could you ask for? A great watch with a great history, fitted with a superbly manufactured mechanism at a bargain price! And enjoyment and satisfaction of doing research on such a fascinating subject is a priceless experience in itself.