I picked this up at a car boot yesterday mainly for the 'military' strap but also because I thought there may be a chance it could be useful for spares.
The watch itself was missing it's crown and stem but the dial looked nice and clean and I liked the design.
On getting home I opened it up and saw it was different from anything else I had, so as yet no use for spares(I dont even know if it runs).
The 10 micron plating was worn but a bit of polish and the brass underneath blends in with the remaining plating making it look ok.
I looked up Kaiser and found little anywhere so thought I'd post a thread mainly to get the information and pictures on the net for future use for others and to contribute information on the lesser brands.
The movement is marked 'KAISER K48' and there is 818 stampede onto one of the movement brackets, there appears to be at least 2 jewels.
I love the dial which is in exceptional condition as are the very nice hands, the second finger is a belter IMHO.