As @Knebo suggests, the second coil could be hitting the regulator pin. I also think the coils could be bunched up on the other side to the stud and touching. I agree with @Nucejoe that it would be sensible to repin the stud nearer the end. It looks odd that there is so much hairspring protruding past the stud. What I'd do is remove the hairspring from the balance and repin the stud near the end. Then install just the hairspring back on the cock. You can then see if the collet is sat over the jewel hole, and make adjustments as necessary. (Depending on your skill levels, repinning studs and tweaking hairsprings can be tricky, but it's a good chance to practice and improve)

This is not making your watch run minutes fast, but I would unpin the hairspring to repin the stud at the most end point of hairspring.   When installed the coil looks bad.  I'd be concerned if tg showed this watch running accurate, concerned that my tg might be feeling unwell. 🙃 Rgds      

The photo I posted was just an example to show how the camera connects to the microscope. I used to use a setup similar to that but I now use a mirrorless camera. When I did use that type of setup I didn't connect via USB, I just saved to the micro SD card.  

Thanks for the reply Knebo. Nice catch about the bumps under the balance cock. I've seen those on the main plate in other watches but not as was done here. I'll do as you suggested and see what comes of it. 

Difficult to say from these pictures. But here are a few observations. here, it looks as if there is a possibility of the second coil (counting from the outside / the one that is within the regulator pins) could touch the regulator pins as well when the watch is running. See red arrow. That could effectively increase the rate of the watch (shorter effective length of the hairspring). Have a close look with your loupe/microscope when the watch is running.   ...but on this picture of yours it almost looks the opposite. Very hard to say.   Have you looked from the side to see if the hairspring is flat and not touching anything?     Lastly, on this picture, you can see that a previous watchmaker has tried to increase balance endshake by creating bumps in the metal under the balance cock. So you know that the watch has been through some things. Possible that someone has replaced the balance staff or even balance complete (in old watches, this can often lead to timing issues when the hairspring is is a bit shorter that the original or the balance wheel a bit lighter).   Either way, you'll learn a lot from this one! Good luck!