Post some pics of the whole engine, maybe we can ID it that way better.
(also post any Numbers's you can find on stickers, or stamped/cast into the engine)
Were you getting any spark at all before you removed the flywheel? (did you try a new spark plug?)
Did you even try holding the end of the spark plug wire while turning the engine over to be absolutely sure?
Are those points in good condition? (did you try cleaning up the mating surfaces a little with a small file or sand paper yet?)
How wide is the point-gap adjusted to?
You should also make absolutely sure your Condenser isnt just defective before assuming the Magneto is defective too.
Unscrew the Condenser wire from the points first, and then use an Ohm Meter to test between the end of it's wire and ground. Post your test readings/results.
Also use an Ohm Meter and take a test reading between the end of the spark plug wire and ground, and post those test readings.
magneto?.jpg