Hello Thomas.
Thank you for your two cents :-)
You opinion covers mostly what I thought when I saw first the pictures of this post, and having the watch deep down in my collection. But now, having two mostly identical watches I had some doubts if I could be wrong. I am shure both watches are fully original Nicolet, with it's identical case and movement number. My only question is, how, why and when the "International Watch Co" Medals engraving from 1906 came into the cases.
I think, this watches where not for the Commonwealth market, but for other, probable IWC customers, who wanted a Chronograph. IWC kept the original serial numbers not consistent to the IWC-numbers, as it was for other early complicated Pocket watches.
I think both numbers 231'739 and 232'7494 are in the books, but for other IWC-watches where the can be found.
Many years ago I had checked mine (231'739) in the archives, when we had the chance to go there. My conclusion was then, that mine is a "Fake" / "recased" what ever. It showed up a as c.IWC 19". So it went to the bottom of my watch stock.
But now having case and movement with the same serial number I think they belong together. There are some mechanical restrictions of the movement, that it does not fit in an c.IWC case (The pin to set the time is not at the correct position).
In addition I compared the "Medals" engraving with that one of other IWC-Watches.
It loocks quite identical. (I dont thik it is coined in, it is at least partially engraved)
An other thing:
One known gap is at 318'003 and 320'000 where one other chronograph (in gold) is placed 318'100. (I know only one in the gap). That one has a dial "International Watch Co" marked and a case wears the "probus scafusia" hallmark.
1905 the gap between case and movement number was around 20-30'000. But the case numbers where higher, so why to make a gap of 2000 in adition. I think we will never know the reason for this 2000 numbers gap. In additon it is a pitty some of the books are missing, but betweem 230'000 and 233'000 the number are complete when I remeber correctly when we looked for 231'379.
The reason for the difference is from my point of view, IWC sold watches with Jones, Seeland, c.28 /c.29 (à Bascule à Pillier) movements and had at the beginning of the numbering before 1885 double numbering of the movements but not of the cases..
IWC Collectos as you (snd D. Seyffer from the museeum) worked lot to find more facts on the history of IWC. But we always find some more question marks as this chronographs.
When 5 of the chronographs ar know, it would be interesting to get the numbers of the other remaining 2 also.
Keep searching and kindest regards
Ralph Ehrismann