Here is my contribution. I would also try and
save the coil but for use on another project having
a different magneto. After soldering and applying
the heat shrink tubing I think you’ll find it difficult
to get the repair bent far enough away to keep from
having the same problem. Also I suspect that has
been like that for some time as if it was recent
the exposed copper wire would be much brighter.
Tubs
A "Boathouse Repair" is one thats done without having tools or the skills to do it properly.