Hi rallyman, and welcome to WTF.
It is, indeed, a beautiful piece. You have a watch by the company that would become famously known as Certina. :w00t:
Freres Kurth (freres is French for "brothers") Alfred and Adolph started making movements for other watch companies in 1888. Their company was called Certina Kurth Freres, SA. As it grew, they started making whole watches and putting their own name on it. These watches were very well-built and highly respected throughout Switzerland. The Kurths named their watches Grana because that is the Latin name for the Swiss town of Grenchen where they lived. Just before World War II their watch brand was oficially changed to Certina, and the Grana name disappeared. By this time the company had 250 employees (it would peak to 900 by 1972).
Grana brand watches are uncommon but not rare. You can usually find a couple on eBay. They don't sell for much over $200 (a lot depends on cleanliness and whether or not they work). This is a shame because given the heritage of Certina, I would think that value to at least be double or triple what it is right now. They are definitely under-appreciated!
Looks like you got your answer over on the NAWCC site from Dr Jon. It likely needs a new stem and crown which most watch repair facilities (NOT those mall kiosks) can handle quite easily.