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Ok guys I have a stumper for you. The gauges in my 77 are having a mind of their own. Right when I start it the gauges all read higher than what they should. The oil pressure reads over 3/4 of the gauge and the fuel is usually a 1/4 tank off, the heat is off also. After about 20 miles the gauges go to reading correctly. Then out of the blue they all hop back up to the incorrect readings. Any ideas?
When I bought my 76, The truck ran out of gas on the test drive in a service station parking lot as the salesman was trading places to let me drive. The gauge read 1/4 tank. I found that Oil pressure and water temp were too high to believe. I called the only speedo/gauge shop that I could find in the Puget Sound area (Tacoma Speedometer) that would deal with Ford gauges and took them the gauge pod. They replaced a little cannister on the back of the circuit "board" (plastic sheet) I think it was a voltage regulator but I can't remember. Now the gauges read normal most of the time but sometimes shoot up. When this happens I can take my finger and tap vigorously on the face plastic and they will drop and behave. I still have them hooked up but I trust the mechanical gauges I installed for accurate readings. I suspect that you and I both have an intermintent ground involving this little voltage doohicky. But hey what do I know?
My 66 Tbird had the same problem. I don't know if the trucks are the same, but there is a voltage regulator that is dedicated for the dash gauges. Once I replaced the regulator, it worked fine.
Classic indications of a failing instrument voltage regulator (IVR), also called a constant voltage regulator. Look behind your dash and somewhere you will locate a small tin box (or something similar)that attaches to the back of the dash. Older type had two slid-on connectors,don't know about the newer ones. Might buy the new one first to see what it looks like. HTH