I also have a similar system that worked for many years. The check valve was mounted horizontally by the return to the hot water heater and I could hear it engage with a gentle "clunk" heard from the basement when any faucet was turned on. But after about 15 years, I stopped hearing that sound and the loop failed.
I am planning to replace the valve and would like suggestions on an appropriate one that might be quieter and requires very little cracking pressure.
One interesting thing about our system is that it is part of a geothermal heating and cooling system which has a desuperheater that reclaims much of the waste heat from the compressor and moves the BTUs to a hot water tank (which tops out at 135 degrees when the system is running) and then used to supply a propane powered hot water tank with an output setting of 120 degrees. Last year we got rid of the propane hot water tank and replaced it with a tankless system, also set at 120 degrees.
I have been wondering if the stored heat from the desuperheater tank will be enough to drive the thermospihon. I guess I'll find out after I change that valve.
Thanks for your advice!