Have you removed the ratchet nut, it has standard right hand thread. The flywheel can sometimes be stubborn, it takes technique not force to remove, Mercury Service Tools are nice but, there are work arounds, I assume the magneto is a Repco/Phelon Model 514 C (stamped on top of flywheel an magneto plate) Coils are hard to come by, but, OMC coils can be adapted. Mercury KE4 was introduced in late 1940s and renamed Mark 7 to conform to new model name system.
Let us know how you are doing and share photos if you can. Nothing we like better than helping out with an old outboard project. There are many here with both sound advice and encouragement.
Louis
