Didn't want to crap on the Beach Boys thread, but It's always sort of bugged me. Why do so many Moody Blues songs have a high-end clicking to them? I can't tell if it's the pick hitting the acoustic guitar strings, or something from the drums. Am I crazy?
Can't speak for the OP, but in the left channel of the original vinyl of In Search Of The Lost Chord you can hear sort of clicking in Ride My See-Saw. Always assumed it was a guitar pick. Interesting is that you can't hear it on the 70s re-release nor on the SHM-CD.
You might be hearing Mike Pinder playing a tamborine. All of their songs have a tamborine somewhere, they use to track by keeping time to Mike Pinder playing tamborine. Which, Mr Pinder was , believe it or not, known in music circles for his perfect timing and tamborine work as well as his keyboard genius. Quite often the tamborine is there mixed way into the background, I bet that is what you are hearing.