If I am right, that may not be an inductor intended for low distorion, accurate, filters, tank circuits, etc. It is probably a lossy inductor, intended for supply line filtering and the like. In that application the 'worse' the inductor is the better. As you probably know, inductors (and capacitors) have a Q (Quality) factor. which = XL/ESR. (XL= 2 * π * F). A Q of 100 would be typical for a precision inductor at its specified frequency. The best inductors are air cored, but they get physicallly large at high values, so a high permeability core is used. Air (vaccuum) is the reference with a permeability of 1.
The lossy inductor would have an AC resistance dependent on the frequency of the circuit. That resistance would not show up on a simple resistance measurement with a VOM. Perhaps the measurement could be made with a 10 ohm resistor at around 1.6 kHz. Skin effect would be negligible and the energy losses would be significantly less. That should measure mostly inductance.
Ratch