Nickel (45%), Copper (54%) and Manganese (1%).
According to an article by Terry Nelson, Antique Watch Repairman, silveroid is an alloy 45% nickel, 54% copper and 1% manganese. So, in a word, "No."
Your watch is a Model 1908 (aka Model 08) Royal grade, size 16 open face watch. It has a 17-jewel adjusted movement, with Waltham's patented Breguet hairspring balance. The manufacture date is 1914. The value of your watch depends largely on the composition, appearance, and condition. Watches of this model in running condition auction for the approximate average prices shown below: Silveroid finish..............$75 Gold-filled....................$150 14k Gold/white gold......$450+ If your watch is 14k or 18k, it would be wise to have it professionally appraised. [December 2010]