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 - What Oil Should I Use? - by Francis Robinson. I keep seein this question pop up over and over again in discussion groups all over the web. As with many things there are often several right answers and a few wrong ones. Some purist I'm sure will disagree to no end with what I will tell you but most of us out here in the real world don't really care do we ? Some of them only bring their noses down out of the air long enough to look down them anyway. If you are like me you are only doing this old tractor stuff because you enjoy it. You
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