I have another version of this radio which is AM/FM in a maroon cabinet. It still says "FM" at the top of the cabinet, but the raised frequency numbers are covered by a brass plate with printed markings for the frequencies of *both* bands. A lever switch on one side selects the band. Looks like the one in this listing:
http://www.ebay.com/itm/1955-GRANCO-...-/350387681360
Cute little radio, heavy as a brick, not a great DX set.
Update: found more detail about my AM/FM version:
http://nabilaagila.com/radio/
jr