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Nice sunny day here in FL today so took my '61 trailer queen out for a ride.
Without any warning the speedo jumped all the way to 60-70-80 then back to the 40 I was doing....stayed OK then bounced around again always settling back down to the speed I am actually going.
Yeah, happened to me too, on the '58. Took it out on a cold day, after it had been sitting for a month. Speedo started to bounce like you described. Was binding due to the cold, needed lubed; but, I didn't do anything, just let it bounce away. Figured that when the weather turned warmer next summer, all would be well again. It was. That bounce still happens each cold spell, hasn't affected the speedo the following year.
It also happens with the tach cable, on the '64. Kind of a high pitch whine tho.
She is just telling you to drive her more. The old girl needs to stretch her legs once in a while.
My father in law lives in the Villages in the Del Mar community behind the bowling alley. Shemp