There are some odd things going on with this watch! First the s/n on the back is 226321 which indicates the mfg. date is 1932, but there is a second s/n on the inside of the caseback 3031093 which would indicate a mfg. date of 1933. Then the movement symbol appeares to be a T indicating 1932, but then it appears someone scratched a line through it changing it to an X which would make it 1933. The only ad in the DB for a 1932 President is for a 17 jewel mvt. This one is 21 jewel. Also the 32 does not have the wandering seconds bit as this one does. No 1933 ad in the DB for a President. The first wadering seconds ad I've seen is a 1934 ad. So thats the ad I used for the supporting advert. Hope the panel can figure this one out!