An acoustic transducer includes a sound-producing member at least partially disposed within the first magnetic flux gap region between the magnetic poles. The sound-producing assemblage is magnetically excited through a magnetic circuit that passes from a location outside the magnetic flux gap region to inside the magnetic flux region through an air gap. The moving member is controllably movable under the influence of at least one varying magnetic field, and its movement is constrained by a unique combination of mechanical restraints and magnetic restraints imposed upon the moving member by the interaction of a plurality of magnetic fields.