Tiffany & Co. Geneva - Value/Age?

This watch was won by my FIL's uncle in a card game, and he just passed it down to my husband. My MIL says they once had it examined by an expert who gave it a date of manufacture around 1883. The value of Tiffany & Co. watches seems to have a really wide range, and I'm wondering if someone here would be able to confirm or amend that date, and give an estimated value. The sentimental value would preclude selling it, but I wondered if it might be something we should insure?

Plus I'm a lover of all-things-old, so any history of the production - where it was made etc - would be appreciated.