10K Gold Filled
In reply to Thank you. All your comments by sambi
There sure were lots of Her Excellency variants by 1954 (about 44 in price lists), and it does not look like Bulova was releasing "new" model variants as late as 1954. There may have been many variants available in 1948. The case matches that of the Her Excellency "K". The dial matches other Bulova watches from the period, so it could be redial after market style, or redial as original, although perhaps not original to subject watch. Maybe a dial replacement, maybe an unknown model or HE variant?
I don't see any evidence in our ads which suggest this case was called anything other than Her Excellency "K", so I'll ID based on the case.
If we had an ad showing this case with a different dail (or jewel count, etc...) ID'ed as a different HE variant, I would not ID beyond generic Her Excellency no variant. But we don't.
I'm going two ticks tentative for Her Excellency "K".