The words new old stock are often to be seen when people advertise watches for sale. What does it mean? Well there are only two circumstances for a watch to be new old stock condition in my opinion, one it's been sitting in a watch makers drawer or safe or that of the current owner, never worn (apart from to be tried on or on display) and should be in a condition that would back this up. The other new old stock condition is one where the watch is made from original new old stock parts from a watch makers box, again no sign of wear but maybe the odd mark from storage is allowable. True new old stock will often have the orignal back case sticker evident (but not always). A watch that has been polished back to life can and should never be described as new old stock condition, it is merely mint condition at the very best but it is not always worth more than a good condition watch which has original condition case but with patina (this is down to personal preference!) New old stock watches have a variable price premium over mint watches depending on their history and the original accessories they come with.
Tell tale signs of case polishing are inconsistent edges, edges that are not straight or crisp and on Monacos; corner edges that are "cut off" so the edges do not extend from one extreme to the the other. Also look out for the tool no33 back case engraving, it should be very crisp, the circle that surrounds it should also be consistent, often a poor polish job will show inconsistency here. There are good polishing jobs and poor ones, the best are exceptionally close to the original finish, the worst ruin the case. If in doubt email me pictures and i will offer an opinion.
This is the classic (and very rare) red Heuer sticker. Occasionally it is filled in with the watch ref/serials but often it is blank like in this example. Of course many people would have removed this paper sticker when wearing the watch in the 1970s, as they did not expect a wrist watch to become collectable!
There are two types of Heuer case stickers, the clear but now aged type which the watch probably had applied directly after manufacturing to stop storage markings. I suspect this was then either left on at sale or removed and the "classic" red Heuer sticker applied.