Elgin Grade 324, With An Odd Repair

Elgin's grade 324 is a small, 0 size, 7 jewel, movement.  This example was made about 1906. 

Proving once again that you never know what you'll find when you get into a watch, here's a rather interesting way to use a smaller balance jewel than the watch calls for.  In the balance cook was a tiny ring hand made to hold the smaller jewel.  The correct diameter jewel is on the right.

I didn't see the ring at first.  The jewel fell out loose with the balance. I saw it had come out because it was too small, but I couldn't get the replacement in there. This spacer ring was the reason.