Here is something that I think many people here would likely need. It is possible to restore your Gameboy volume & LCD potentiometers to brand new condition, & I will show you how I figured it out, & how I did it. For the longest time, I've had bad spots in the volume & LCD contrast knobs that would not only produce completely dead spots, but would always cause static as well. It was so annoying!!! Well, no more. Let's begin.
ANALYSIS
I have an old Gameboy that I accidently ripped the LCD ribbon cable off the board when trying to put in a backlight about a year ago. I used that one for parts. I unsoldered the volume potentiometer off the board, & decided to test it. Its minimum range seems to be around 20 ohms of resistance.
Its maximum range seems to be close to 10K ohms.
Here, you can see where it sat on the board. The empty spot is labeled "VR1 10Kx2".
The potentiometer with the volume knob still on it.
Now completely disassembled.
NOTE: This seems to be a newer wheel. I've seen a couple of others that don't have the detachable yellow plastic piece like this one does.
This piece should be able to be cleaned with a pencil eraser. That would likely eliminate any dead spots & fix any type of contact problems.
So, from what I see so far, it looks like the wheel spins freely on the shaft. The top of the shaft has been mushroomed down over the wheel to keep the wheel pressed down at all times. This way, it can stay pressed down on the contacts & spin freely at the same time.