Coin watches provide a fascinating insight into the history of horology. These ultra slim timepieces were constructed from legal tender, requiring two coins to be split to form their outer case, and an impressively small watch to be completely hidden inside, via a separate, hinged case. Audemars Piguet is among many Swiss brands who created these lovely creations, and as the AP Extract from the Archives for the present lot confirms, production of them continued into the early 1990s. Typically, the manufacturer used historic United States $20 coins for watches meant for the American market.

Audemars Piguet created a fine selection of rare coin watches, and the present model with skeletonized movement was their most prestigious. The 1891 Liberty Head coin has a bas-relief “Lady Liberty” on the front cover, while the reverse features the Great Seal of the United States along with “United States of America Twenty Dollars.” To open the watch, one must find the nearly invisible push button in the milled coin-edge side. The hidden case houses a spectacular, skeletonized, and hand-engraved movement with solid 14 karat gold bridges. This inner case is hinged and lifts up from within the coin to display the time.

The present watch is in exceptional condition, complete with its rarely ever seen certificate of origin and full accessories.