Probably one of very few of the first run of gold cased smiths in existence.
It is generally accepted and documented that Smiths started the civilian production in 1947, with some of the early ICI watches pre-dating that year in the inscription, but normally post-dating it in case hallmark, and are found with most varieties of the early run movements.
But this is a small 29mm 3 piece cased watch in 9 carat, dennison ref number 12327, serial number 88301. Hallmarked Birmingham 1946/1947, with a w, important to bear in mind that hallmarks can cover two consecutive years.
The crudely gilded movement is a series numbered 2798 and has most of the detailing one comes to expect from an earlier hand finished model.
The bolt screw is within the bridge and the regulator index finger is the early fat type. Ratchet wheel is polished.
Usual Smiths features, concealed winding, straight one piece click and click spring, anti-magnetic hairspring. Balance with screws.
Please note that the case has not been polished and is a dark toned colour. The winding crown is pink and may be changed later for a more closely matched colour if I can find one.
Case hallmarked and numbered throughout.
Fully serviced and keeps good time.