First time poster... with a couple of questions.

[JayChicago]

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Originally Posted by dsglass95

With a 6 volt battery I have seen a consistent 6.3v at the coil every time I have checked it.

That is just battery voltage, which is what you see if engine happened to stop with points open. Not likely you would see that on every test, points are open only open 20% of the time. More likely points are corroded and preventing current flow. With the resistor in the circuit, when points are closed and current flowing, reading at the coil should be 3-3.5 volt. (The resistor drops voltage about 3 volts.)

I agree with others, send distributor to Third Generation. I would not try to work on one of these distributors myself. No timing marks on the engine to set the timing. Ford designed these distributors to be easily removed, work done on the bench, timing set on a machine, then bolted back on the engine. With new points and timing set by a pro on the machine, your distributor will be good to go for years.