Pulled the flywheel on a project and was surprised to find missing ignition parts and coil laminates damaged / splayed – I assume by an incorrectly set flywheel ? It has different coils to a ’67 55hp battery ignition motor I run. Are the 35hp coils common with other motors and are laminates / coils easy to source of this era? No sure if I want to spend a lot of money on it, but seems a shame not to see if it is a viable motor.
I’ll bet the coils lams are splayed because of rusting between the laminations or rust buildup on the flywheel magnets. The air gap between them is quite small and it doesn’t take much before they rub.
Your motor has a Fairbanks-Morse magneto so doing a Google search should help you locate the missing parts. Entering the model number should help to.