This was in a tool box of random tools that my uncle had stashed away. He was getting rid of stuff. Can anyone tell me what it is? Thanks all!

 

It's a dial indicator. It's typically used to set the backlash on differential gears, check out of round on brake drums, warpage on brake rotors and much more.

 

Thanks for the explanation Charlie. I have zero use for it, I’m considering posting it on CL or eBay. Is it worth hanging onto?

 

Mike, thats a one inch travel dial indicator and magnetic base. You can use it for a multitude of things like finding TDC on a piston. True, you have no use for it now, but when you do, you'll have it. .

 

Well, I might just hang onto it. You’re right, if I ever need one, I have one. Thing is, I’ll have to YouTube it or try and find a manual online for it because I have no clue how to use it.

 

It can also check for wheel and axle runout in case of either being bent. I would keep it.

 

Keep it! It’s no doubt an older unit that’s made in the USA unlike the China made crap. Your Uncle will thank you for keeping it.

 

Is the movable contact on the dial indicator corroded? Make sure you clean that off so it doesn't get worse.

Don't forget, "he who dies with the most tools wins!"

 

Good chance your uncle also had a metal lathe.

 

So I would need some sort of ‘turning’ mechanism to turn any item I would want to check with this dial indicator then, correct?

 

It checks things that move, not just things that rotate.

As Ralph said, it can check when a piston reaches TDC. Yes, things that rotate can be checked for runout as well.

 

As far as cleaning it up a bit, getting some of the surface rust off, what's the best way to go about that without harming anything on the indicator? Emory cloth?

 

If you thumb through the 1961 Oldsmobile Shop Manual you should see several uses of this tool in the illustrations.
Look especially in the engine and drive line sections.
Do you have a 1961 Oldsmobile Shop Manual?

 

I sure do.

 

here is a link for a Utube video explaining one of the many uses.

 

That is a Central Machinery (Harbor Freight) dial indicator, identical to the one I bought from the "tool truck" in the 90s. Originally came in a blue or red plastic box like the photo below from an ebay auction. Reasonably accurate. In the condition yours is in, worth about $20. Clean the metal parts gently with 0000 steel wool and penetrating oil to remove the rust/corrosion. Might be worth $30 then. BTW, I also have that exact tool box as well. 👍