I've been considering a vintage gold IWC for a dressier watch and finally did the deed this weekend. The seller is a long time vintage watch dealer, but it had no paperwork with it so I'm doing a little research to determine exactly what I've got. I confirmed for myself the movement is stamped Cal 85, which I believe means it's the first iteration of the Pellaton automatic movement by IWC. The serial #, 124..., dates it to 1951. The movement is also stamped 21 jewel and Pat Appl. The case back is stamped 18k with a serial # 126..., which seems to correlate with the time period for the movement. The only concerning items to me are the dial doesn't say "Swiss", the lack of pin holes on the outside of the lugs (most pics of similar IWC vintage watches seem to have pin holes), and the lack of a legible 18k stamp on the case itself (there is a stamp on one of the lugs but it's not legible). The dial could be refinished as it seems to be in very good shape, though not perfect and the hands have a slight bit of discoloration.
Pics are below. I'm curious if any IWC experts or aficionados have any thoughts on the watch. Thanks for any insight you can provide.