swets64, if you don't see any external shunt connected across the terminals of the meter, then I would suspect the shunt is internal. Most current/amp meters are only capable of measuring very small amounts of current. And the shunt carries the real current around the meter allowing only a small amount of current to get to the meter. So if your meter is only capable of measuring small amounts of current, then I would expect the shunt to be inside the meter housing. JMHO