Hi Peter,
The speedo operates by a spinning magnet generating magnetic currents in an
aluminum disk which causes this disk to spin. This disk is connected to the
pointer through a shaft as well as a little spring which keeps this disk from
continuing to rotate.
It sounds to me that this spring is loose or broken. Most likely the gauge
will need to be fixed at a smiths instruments repair shop.
I used following pdf to guide me in the restoration of my speedo and tach.
Both springs were ok on my instruments and I was very careful around them.
There is a diagram at page 5 or 6.
http://www.healey6.com/Technical/Repairing%20Speedometers.pdf
cheers,
Bert
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