Late 1950s Magnavox Console Stereo

[Reece]

I don't know the construction of your bad idler wheel, but what some have done is to remove all the old rubber and take the wheel to the hardware store and look through their selection of O-rings. Best would be to find a fat one that fits on the now exposed metal of the wheel. The fact that the diameter of the wheel may change doing this is not important as the wheel is only an intermediary between the motor shaft and the turntable. Once you find an O-ring that works, if needed, with the ring in place and properly aligned, carefully superglue it to the wheel, being careful to keep the glue only in the area of where the ring contacts the wheel. It will wick down into that space. You don't want any on the outer surface, obviously.
While you're there, pick up a tube of light grease and a can of light oil for refurbing the changer mechanism.