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From Terraria Wiki
The Silver Watch is a mid-tier watch. The Tungsten Watch is an alternate to it. When equipped in an accessory slot or simply held in the inventory, a clock will appear in the upper-right corner of the playing screen, revealing the in-game time accurate to the last half an hour. Half an hour of Terraria game time is equivalent to half a minute of real-world time.
- 1.3.1: Sprite updated.
- 22.214.171.124: Now works while in inventory and time is displayed differently, on the right side instead of the left.
- 1.2.4: Fixed bug where watches show 2 colons ':' when displaying time.
- Unkown Mobile Version: Removed.
- 1.1: Now used to craft the 3 Second Timer.
- Pre-Release: Introduced.