The Talking Machine Forum — For All Antique Phonographs & Recordings

It isn't a needle. It is a tone modifier/volume control. The device is inserted in the needle chuck of the reproducer, and the actual needle is inserted into the weighted end of the device. This diminishes the ratio of the distance from the needle tip to fulcrum/fulcrum to diaphragm center which decreases volume. The weight adds mass to further decrease the volume.

Very interesting- the photograph isn't all that clear, I thought there was some kind of jeweled point in it.

Further info: someone on another board actually asked the dealer & he says it has a triangular shaped gem stylus in it- so I'm thinking it's an aftermarket jewel stylus. The owner probably ruined a couple of records with it and threw it back in the box in disgust.