That model tractor comes right about the time IH went to a resistor wire in the wiring harness from ignition terminal on starter solenoid to ign switch. Solenoid has two small terminals, one if to activate starter and other is is to feed battery voltage to coil during cranking. There will be two wires joined at that terminal if correct. I bet someone got things a little mixed up and they are feeding battery voltage to coil all the time instead of going through that resistor wire. Other possibility is if it does have the ballast resistor mounted on the engine or coil that the wires are on the wrong side there again feeding battery voltage to coil at all times. If you check coil as others have suggested and check voltage to coil with points closed and drawing current you will be able to solve the problem. Should have approx half of batt voltage to coil when not running and about 8 volts to coil when running provided it has original type coil which is a 6 volt.
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