A complete restoration could easily cost several hundred dollars if a lot of work is needed. I doubt that is what you want. My suggestion would be to have a competent local watch repair shop service the movement and polish the crystal at a price of $150 or so.
Go with an independent watchmaker - and if it's really dear to you, don't think too much about the price tag of the service. It'll easily run you several times what the watch costed new. But sentimental value is priceless, and grandpa watches are the best. You'll never regret doing it.
The watch back is missing as well as the movement, I looked on ebay for the same watch (for parts) but came up shorthanded. Would I need to find the exact parts, or can a watchmaker/repairer use something different?
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