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I've seen the RF cans mounted under the chassis like that on several Pierce Airo radios (DeWald brand).

E.g. Look at this DeWald 524:  https://www.radiomuseum.org/r/dewald_524.html

Did Pierce Airo make their own radios?  I do know those DeWald radios will show up with other names on them, like "Little Giant."  Maybe Victory was a rebadged Pierce Airo radio.

I think the cabinet looks real enough... production model, IOW. Just the tube shield is an add-on. Probably the original shield got lost and someone substituted a close fit.