Silver was a quite common metal for both wrist and pocket watches in the past.
Before S/s got common, it was the middle of the range metal. (I am talking solid metal). Silverode / German Silver being the cheapest, and gold or Platinum the most expensive.
I would think Silver lost popularity due to the softness and also it tarnishes, which leads to black wrists and dirty cuffs.
I am just curious. How many of us have a sterling silver watches? It is so random to see various gold, platinum, palladium, stainless steel watches, but what about a sterling silver? There is certainly some magic over there...
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