Oil pressure

[rsw0331usmc]

I was just out tooling around in my '68. I noticed the oil pressure gauge pegged to the limit. I'm hoping the gauge itself or sending unit is just screwed but I had a scary thought. I was wondering if the cam bearing was spun preventing oil flow. I didn't hear the rockers or lifters raising hell. Any ideas?

[birdsandbees]

Sender wire is chafed to ground..

[Sublime/Sixpack]

Questions:
-Does the needle peg when you turn the key on (engine not running)?

-With engine running, needle pegged, what does the needle do when you turn the key off? Does it momentarily stay pegged, then notch to the left, then back to the right, then slowly move left to zero?