This is an early Wico Magneto. A picture of yours would have been more helpful but I believe this will apply. If you decide to replace the coil, with some effort, you can install a coil that’s used in the OMC universal magneto as a substitute. It’s not in the video but I was able to replace the condenser with one from the same magneto. Video link – https://youtu.be/tVvSB5QxMrw?si=LVK90cCaXQ2iCvRu
A "Boathouse Repair" is one thats done without having tools or the skills to do it properly.