Patek Philippe

• 10''' nickel lever movement, 18 jewels, eight adjustments, bi-metallic compensation balance • gilt dial, black enamel Breguet numerals, blued steel hands • yellow gold circular case concealed within a hinged 18k yellow gold U.S. Twenty Dollar gold coin • case, dial and movement signed

Henry Graves, Jr.
Gwendolen Fullerton
Reginald H. Fullerton, Jr.

Superb example of a Patek Philippe coin watch and the earliest known coin watch by Patek Philippe, the watch in lovely condition,the dial well printed and lovely, unusual arrangement for manner in which the case is hinged within the coin. the hinge requires some adjustment as it tends to be slightly challenging to close.
"In response to your inquiry, we are pleased to provide you with a general report of the condition of the property described above. All dimensions in catalogue descriptions are approximate. Condition reports may not specify mechanical replacements or imperfections to the movement, case, dial, pendulum, separate base(s) or dome. Watches in water-resistant cases have been opened to examine movements but no warranties are made that the watches are currently water-resistant. Please note that we do not guarantee the authenticity of any individual component parts, such as wheels, hands, crowns, crystals, screws, bracelets and leather bands, since subsequent repairs and restoration work may have resulted in the replacement of original parts. Since we are not professional conservators or restorers, we urge you to consult with a restorer or conservator of your choice who will be better able to provide a detailed, professional report. Prospective buyers should inspect each lot to satisfy themselves as to condition and must understand that any statement made by Sotheby's is merely a subjective, qualified opinion. Prospective buyers should also refer to any Important Notices regarding this sale, which are printed in the Sale Catalogue. In particular, please note it is the purchaser's responsibility to comply with any applicable import and export matters, particularly in relation to lots incorporating materials from endangered species.NOTWITHSTANDING THIS REPORT OR ANY DISCUSSIONS CONCERNING A LOT, ALL LOTS ARE OFFERED AND SOLD AS IS" IN ACCORDANCE WITH THE CONDITIONS OF BUSINESS PRINTED IN THE SALE CATALOGUE."

**Please be advised that bands made of materials derived from endangered or otherwise protected species (i.e. alligator and crocodile) are not sold with the watches and are for display purposes only. We reserve the right to remove these bands prior to shipping.

Important Notice regarding importation into the United States of Rolex watches
Sotheby's cannot arrange for the delivery of Rolex watches to the United States because U.S. laws restricts the import of Rolex watches. The buyer or a designated agent may collect the property in the country of sale."

With an Extract from the Archives confirming the date of manufacture in 1925 and subsequent sale on June 29th, 1928.

A scion of a prominent banking family, Henry Graves, Jr. would have enjoyed the technical genius of concealing a Patek Philippe within a $20 gold coin. Opened by a secret latch contained within the coin edge, a push of a finger triggers the top of the coin to spring open revealing the dial of the watch.

According to our research, the present coin watch is the earliest known produced by Patek Philippe. This pre-production example pre-dates the reference 801, 802, 803, and 832 by over twenty years. Another early example No. 861011, sold August 19, 1940, can be seen in Huber, M. & Banbery, A., Patek Philippe Watches, Second Edition, p. 165.