If the coil is good (check with an ohm meter) and the magnets are in the flywheel... then it will do what it needs to do. in the coil... there is a CDI built into it. The coil is problem bad.
Assuming that you've also checked all the wiring, and kill switch... the most common issue with the early skis, and no spark, is that the "Speed Limiter" went bad. It's the rev-limiter, and what the kill switch controls, so you aren't seeing any high voltage coming up to the handlebars.