An E Howard watch with that serial number would have been one of series IV (18S), made between 1861-1871, probably c. 1868. The value depends on several factors, such as metal fabrication, whether it's a case or open-face watch, etc.
Some sample closing bids from live auctions are listed below. In most cases, the watches sell for less than the appraised value.
c.1861-1871, 17 jewel, 14k white gold................................$375.00
c. 1869-1899, brass plated, no chain...................................$275.00
c. 1865, metal, boxed, open face, runs, very fine condition....$170.00
c. 1868, 18k yellow gold case, crystal missing......................$950.00
c. 1865, 17 jewel, 14kt, runs.............................................$375.00
c. 1866, "gold" movement in post-1902 Keystone case..........$100.00
Due to the wide variation in price and the limited number of 19th-century E Howard watches available for comparison, it would be wise to have the watch professionally appraised.
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