Since the new coil is getting hot as well, your coil is receiving 12V when it should only be getting 6V.
Did you do any rewiring recently?
Tractors of that era usually had a "boost" circuit that provided 12V to the coil during starting. It can be incorporated into the key switch, or it may be drawn off the solenoid at the starter, or if the tractor's new enough, it may be a relay that is activated by the starter button. I am not familiar with your tractor model so I don't know which it could be.
Perhaps the boost circuit is getting stuck on?
The other possibility is the ballast resistor failed, or has been removed.
Replace the ballast resistor, or replace the coil with one specifically designed for use with 12V without a ballast resistor.
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