The Vintage Wrist Watch Company has dated this piece to the 1940s.
The watch has a good quality 15-jewel stem-winding movement, reference 725, which is working nicely. The movement is signed with the Vulcain name.
The name Vulcain was first seen in 1894 and was officially registered by the Ditisheim family in 1900.

The movement is protected by an inner hinged cover which is inscribed,
Vulcain
f abrique de montre de précision
fondée en 1858
Médailles aux expositions universelles
Paris 1889, Chicago 1893
La plus haute recompense

Observatoire de Neuchatel Suisse
prix de série pour les
six meilleurs chronomètres
Exposition internationale
Barcelone 1929
Grand Prix
which translates as...
Vulcain
precision watch manufacturer
founded in 1858

Medals at world exhibitions
Paris 1889, Chicago 1893
The highest award
Neuchatel Observatory Switzerland
standard prize for
six best chronometres
International exhibition
Barcelona 1929
Grand Prize
The watch measures 49mm diameter excluding the winding stem and the loop. The case is chrome plated. The case back has the Air Ministry mark, GS (General Service), 6E/ 50 (Air Ministry issue code for observer's pocket watch, 1939-1945), G&S Ltd (Goldsmiths & Silversmiths Ltd), 1022/40. The front of the case is in good condition while the hinged case back has surface marks across it and a slight indentation. The inside of the case back is also signed G&S Ltd.

The acrylic lens has light marks, not too detrimental at all.
The signed dial has a hairline running between 6 and 10 and a couple of other short faint hairlines. Blued steel hands, subsidiary seconds dial and outer minute track.
The watch comes in a new presentation box.
The Vintage Wrist Watch Company has dated this piece to the 1940s.
Specialists in antique and vintage wrist watches and pocket watches
You can view the stock and full dealer information on the The Vintage Wrist Watch Company Profile Page