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While it is open, make sure you record everything written on the movement of the watch and the watch case. A good description of how to open a pocket watch case and background information can be found here, thanks to the work of Kent Singer.
For example, at the bottom of this web page is a table that can tell you approximately what year your watch was made.
If so, then you will enjoy reading about these fantastic pieces of American history.
In many cases people have been left these old antique watches by their parents or grand parents.
Chris' explanation isn't as detailed as Kent's, but it includes pictures which can be very helpful.
Sometime in the next week or so, I will be moving my website from one ISP to another.