Piezo disc I guess?
I suppose the coil would be loading, compensation for the disc capacitance, then. I mean, you have the parts in front of you, you can trace the circuit -- then measure the coil, and see what the impedance of the whole thing is at audio frequencies.
POTS was 600 ohm, wasn't it? Should have a peak or valley impedance around that, in the phone range (500-3000 Hz).
Tim