You can get it operational pretty cheap and easy with a partial 12v conversion. You would just need to charge the 12v battery with a charger occasionally till you can get an alternator installed.
My Farmall SC lasts a couple months of very occasional running before I need to charge the battery. Eventually I will get an alternator on it.
If you want to go this route:
Remove all wire and rewire from battery + to switch, from switch to + side of new 12v coil, (buy one with no external resistor required). From - side of coil to distributor. Battery: negative to frame and positive to starter.
This is a quick wire job that will get the tractor electrically functional and allow you diagnose other issues.
I'd recommend a new 12v coil, +-$20., as I think old one has failed.
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