Your magneto is used on many small horse power , pre WW-II, Johnson, Evinrude, and Sea King outboard motors. It often wont produce a spark when they sit for a long time. As stated above, the first thing is to cleaning the points. If just cleaning the contacts doesn’t bring back the spark you need to un-solder the wires, and take the points apart. Clean all the metal parts. Notice where the insulators go. The insulated pin that works the point has a flat side and a round side. The flat side goes to the cam. I have had a lot of motors with this magneto and many of them wouldn’t spark when I got them. It was never a bad coil. This is the replacement condenser I use.
A "Boathouse Repair" is one thats done without having tools or the skills to do it properly.