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Secretplayer,
Your radio dates from the 1933-34 period. It appears to be in very nice original condition. I agree with Ampico-kid, I too am a purist and would urge you to not change the speaker. You would likely have to make modifications in the circuit and it would ruin the originality of the set. You can have it reconed and restore the speaker. You are not going to get hi-fi sound from this unit if you install a newer speaker. It is better to restore the old components rather than modifying. This radio can be easily repaired/restored and can play like it did when it was new.
The cabinet looks to be in good condition. I would polish it and not have it refinished. There appears to be some wear around the knobs on the panel but that is OK, it is part of the character of the radio. Overall a very nice, collectible set that can be kept in its original condition but made functional once again.
Gilbert
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