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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