Hi C.W.,
I have one the same...I was going to give it to my son when I pass on...but I have now decided to give it to him with a warm hand .
The fact that a father gave you that watch makes it priceless.
A Rolex day date in yellow gold when given from father to son is not just a watch...it is a "Gold Watch", and a "Gold Watch" was traditionally, what was giving to someone highly respected ...or at retirment after a lifetime of commitment.
Enjoy your fathers belief in your worth, and wear it in long and good health.
Kindest regards,
Jack