YES 12 volts on both sides "at the "proper time" which is ONLY when points are open. When they are CLOSED there should be ZERO volts with respect to frame ground on the coils output (to distributor)
"The coil body isn't grounded, right?"
The coils outer metallic core/frame doesn't matter if its frame grounded or not.
So, when you ran through my Troubleshooting Procedure I linked for you below, did the test lamp go ON when points are OPEN but OFF when they are CLOSED?????????
If you use a plug wire out the coils top HV tower, thereby by passing the cap and rotor, and use a spark plug with its threads frame grounded or place the other end of the wire to within 1/4 inch or so off frame ground and turn her on, each time the points have been closed but then they open IT SHOULD SPARK, does it????????
Run my Troubleshooting Procedure and let us know what happens, that's about all we can do for you from here.
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Today's Featured Article - An Old-Time Tractor Demonstration - by Kim Pratt. Sam was born in rural Kansas in 1926. His dad was a hard-working farmer and the children worked hard everyday to help ends meet. In the rural area he grew up in, the highlight of the week was Saturday when many people took a break from their work to go to town. It was on one such Saturday in the early 1940's when Sam was 16 years old that he ended up in Dennison, Kansas to watch a demonstration of a new tractor being put on by a local dealer. It was an Allis-Chalmers tractor dealership,
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