You should have around 12 volts on the small + and - wires into and out of the coil. The big wire out the top will only have voltage for an instant when the points open and close, you don't want to be touching it then because that's the ignition spark - probably 20,000 volts.
If you're not getting a spark, replace the points and condensor. Make sure you set the point gap correctly. Or replace them with electronic ignition for about $100 from one of the advertisers on this site.
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Today's Featured Article - The Niagra View Mobile - Powered by a 1959 Ford Tractor - by Mark Massey. In 1959 the Niagara Frontier Transit Inc. of Buffalo, New York designed and built six Viewmobiles for the Niagara Frontier Sightseeing Inc. for use as a sightseeing ride at the Niagara Falls State Park, Niagara Falls, New York, powered by a 1959 Ford 611 Tractor.
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