Gyro... Yep, and in the front right corner of the 'board' you can see the 'Cats-Whisker' Diode, with a lever on the right of it,
to try and 'strike' a good spot on the Chrystal!! The most important part, to demodulate the incoming sine-wave to discriminate
the amplitude-modulation of the signal, using just 1/2 the waveform. Was a fiddly business back then!!
P.S.... As you said, it's a variable inductor for frequency selection, instead of the typical variable Capacitor...
However, this topic reminded me of the oldest Radio in my collection! One of the 1st that 'Crosley' ever made. But instead of varying the amount
of overlap of consecutive plates to make a typical variable capacitor these days, it uses what 'Crosley' call a 'Book-Capacitor' !! As per...
With these, it has two fixed plates, and via a 'CAM' from the knob, has a spring-loaded 'Variable-Dielectric' !! to achieve the same result.
You won't find those on the shelves anywhere! haha...
P.P.S... I couldn't help myself... Usually, (as in my case too!), across the above 'Capacitor' is what they refer to as a 'Grid-Leak' Resistor/Capacitor...
OK, so here is where they seemed to have a sense of 'humour' back then, some bright person decided that if it is 'Leaking', (not in that literal sense!),
then it may need a 'drip' tray under it!!! So you can actually buy a 'drip-tray' for those, just for fun!!...
You can see the above 'tray' with the word 'MUTER' on it.... It of course does nothing... but I WANT ONE !!!