Ken,
Hello Neighbor.
Pre 10,000 serial numbers came with what was termed a “Breaker-Type Ignition System”. This was a flywheel-magneto-alternator system. The ignition coil was mounted in an assembly along with the stator, with a high tension lead running to the spark plug.
It sounds like someone may have disconnected the magneto coil (possibly no longer working – and possibly NLA) and rewired the system to another type of ignition system - probably the more common battery ignition system used on 30,001 serial numbers and higher. This would use the more common externally mounted 12v coil along with the already existing condenser, and point setup.
Tim