What is it?

[Reece]

Very unique set. As to the loop antenna, that set was made before loops were commonly provided, so I imagine that the loop doesn't really function as a true part of a tuned circuit. The radio was probably made to use a long wire antenna. Easy enough to determine: if it has antenna coils on/below the chassis, then the loop isn't part of the radio design. Ten feet of wire would probably work better.