I have a gate valve (I think this is what you call it) it has the small bleeder screw on it. Its the main shut off. Its very old.

About a 1' from there someone installed a modern ball valve. That shuts the water off.

However, the twist handle valve remains right at the meter and there is some white buildup on the thing...it looks old, don't see it leaking knock on wood but I wouldn't want to be moving it to much.

I was wondering two things...

how common is it to find that type of valve as the main shut in a home these days?

since I have the newer valve close by, is this something I need to replace?

it is probably an old style globe valve. they had a stem and a rubber washer. i would guess the rubber washer has long since deteriorated. if it is not leaking just leave it alone. the worst it is doing now is creating some resistence which will give you slightly less water flow.
the old valves were all solid heavy brass and will last a lifetime. the new globe valves are imported and made with inferior brass.

Is it pretty common to find these still in a house?

Do these things just catastrophically fail because of old age? Or does it take operating them or jarring them for them to blow?

It does have the nut right at the stem... there is a bit of calcium white buildup on the stem and nut... that's what freaks me out not wanting to operate it.



Edited 2 times.

The nut at the stem is the packing nut and the main source of failure on old valves like that are people trying to fix them. If you don't have any water dripping, I wouldn't recommend that you touch it. If it is dripping, carefully tightening the packing nut a quarter turn is all I would do. If you are replacing the entrance valve, have it done by a licensed plumber.

It was a common thing when your home was built, but as long as it is not causing any problems, leave it the way it is.

If you can do it easily, remove the handle so that nobody has any reason to touch it.