Being a Craftsman generator, it is most likely to be a Tecumseh engine. Complete magneto assemblies are not available any more. Most likely, the problem is either points/condenser or coil - all of which ARE still available. You may also find that once you remove the flywheel, the magnets attached to the inside of it are loose or missing. I went through a similar problem with my craftsman generator. Flywheel magnets were bonded (at one time) to the inside of the flywheel. One was loose and just drifting along the inside of the flywheel and the other was still attached. I used JB Weld to reattach both. Still no spark. I put in new points/condenser. Still no spark.... Found that the points were not closing completely causing the loss of spark. After going over everything meticulously, spark returned and the generator started. Next problem... no voltage output. After sitting for an extended period of time, the rotor will lose the residual magnetism that it needs to produce electricity. This problem requires re-initializing the generator.
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