Sorry about the delay. 90+% of the time a GDM is used to determine the resonant freq of a combination of capacitance and inductance. As mentioned earlier, for measuring the individual values of a coil or capacitor, a LCR meter is hard to beat. I paid about $75 for mine either at MCM or All Electronics about 10 years ago. Very handy. Nice ohmmeter also.
Yes, you can measure the inductance or capacitance of an individual component with the 259B WITH some restrictions and technique. You need to look at the section in the manual on this. The GDM coils are not used for these measurements and there ARE some restrictions on range, etc. If you don't have the manual, you can download it for free at www.mfjenterprises.com
. Consider getting a LCR. It will make scratching through the junk box a lot more fun. Hmmm.....wonder what the value of this is?