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The little 1/2 hp. motors from the late 30’s
have the smallest flywheel and likewise
the smallest magnets of any outboard motor.
As they are pre war motors they have iron
magnets and they do loose magnesium over
time. They also have a coil that has failed
by now. In this video the motor is running
using a coil from a 1949 Mercury 10 hp.
KF-7 Super 10. That magneto has permanent
magnets that are not only larger but way
stronger than what is in the 1/2 hp. flywheel.
In spite of the fact that there is a major
reduction in magnesium there is still enough
to produce a spark so the motor will start and
run. Its a myth that these early magnetos need
to be recharged to start and run properly. The
problem with spreading this myth is convincing
people they have a problem and they are not
able to solve it when in fact that is not their
problem at all. You would be that example. The
strongest spark is produced when the polarity
from the magnets changes as it passes over the
coil. This is when the points should open. You
achieve this by setting the points at the proper gap.
https://www.youtube.com/watch?v=71W9cPMV09A
A "Boathouse Repair" is one thats done without having tools or the skills to do it properly.