Green’s Dictionary of Slang

gold watch n.¹

Scotch whisky.

1969		S.T. Kendall Up the Frog.
1972		Galton & Simpson ‘Man of Letters’ Steptoe and Son [TV script] Here you are, a nice drop of gold watch.
1979		F. Norman Too Many Crooks Spoil the Caper 168: Two light ales, free pints a bitter, five gold watches, two port an’ lemons.
1997		(con. 1960s) A. Frewin London Blues 100: What are you going to get me then? A gold watch? Huh?
2002		B. Kirkpatrick Wicked Cockney Rhy. Sl.