My Woofer Sounds Like a Tweeter

I just pulled out a pair of mid-80's vintage Polk Audio bookshelf speakers from the spare bedroom and I wired them into a second system.

One of the speakers only produces the high frequencies from it. I opened the inside of the speaker enclosure and checked if any wires were loose or broken, but everything looked OK.

The tweeter seems to be operating normally, but the woofer is only radiating high frequencies.

These are not very costly speakers.
What is the problem and is it a worthwhile fix?

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