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If the system is unmodified, voltage should be present on both coil studs even with the ignition switch off. The ignition switch is wired between the downstream coil stud and the distro which allows the regular grounding through the points to collapse the coil magnetic field and produce the high voltage in the secondary coil winding. A modified system such as electronic ignition, negative ground, 12 volt upgrade is entirely different. On those systems the ignition switch normally supplies voltage to the coil.