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I just picked up a replacement coil for my 74 350 from Napa and on the coil is printed "External resistor required". I have traditional points based ignition
Stupid question but what does that mean? Would there already be such a resistor on a stock car?
You should have a resistor wire built into the ignition if it is stock. Easy way to test is to take a voltmeter and check the voltage at the positive side of the coil with the engine running or ignition on. It should be 10.5 volts or less. If it is 12 volts then you don't have a resistor wire and would need to install an aftermarket balast resistor between the ignition wire and positive side of the coil. Good luck.