It might help for you to understand a little about how an ignition system works. Here's
a diagram that shows the basics of a points-type ignition system as well as providing an explanation of how it works.
Here's how a points-type ignition system works. 12V from the battery (or 6v in the older systems) is connected to the distributor (usually through a connection on the side) so that it passes through the points. The other side of the points is connected to the plus side of the coil. The coil is then grounded, usually by a wire connected to the coil's negative terminal and to the coil's mounting strap, which is bolted to the engine and therefore grounded. When the points are closed, current travels through the points and the coil to ground. The current flowing through the coil creates a magnetic field around the coil. When the points are open, the circuit is interrupted and no current flows. When the current stops, the magnetic field collapses.
The on and off fluctuation of current is controlled by a cam in the distributor that the points "ride" on. At each high point (there are six for a six cylinder engine and eight for an eight cylinder engine, and so forth) on the cam, the points are opened and current stops flowing. This causes the magnetic field in the coil to collapse and that collapse generates a very high voltage spike (10 to 20,000 volts on older systems, 60,000 volts on newer ones.) The voltage spike is then transmitted from the center tower of the coil through its "coil wire" back to the distributor.
The high voltage spike then travels through the center terminal of the distributor to the rotor, which then transmits that spike to one spark plug terminal depending on the rotor's location at that moment.
So, the first thing to do is ensure that you have 12v on the
coil side of the points with the points closed. (The easiest way to do that is connect your voltmeter to the plus terminal of the coil, but keep in mind that the wire between the points and the coil could be broken or defective.) Then manually open the points, and that voltage should go away. If it does, the points are functioning properly
electrically. (You could still have a mechanical problem.)
The next step is to leave the voltmeter right there, set it to the lowest range that's still above 12V and have someone crank the engine briefly while you watch the meter. If it goes up and down rhythmically, then the points are working mechanically as well. (You could still have problems with timing or dwell or sticking points throwing off the timing.)
Once you've confirmed that the ignition's primary circuit is working as expected (but adjustments may still be needed to tune the engine properly), move on to the secondary system.
Pull the center wire from the distributor cap and hold it with an insulated tool. Put the metal shaft of a screwdriver in the middle post of the distributor and hold the coil wire close to the screwdriver's metal shaft. Watch it while someone cranks the engine. Is there a spark? If so, the coil is working
and so is the coil wire. (It may still be too weak to start the engine.) Is the spark strong? Does it make a snapping noise? If so, the coil is probably good. If not, then either the coil or the coil wire probably needs to be replaced.
Replace the coil wire in the center terminal of the distributor cap and remove one of the outer spark plug wires and repeat the same test. Is there a spark? If so, the mechanics of the rotor-cap system are working. (But they still may not be providing enough spark.) Is the spark as strong as it was at the coil wire? If not, replace the cap and rotor. If it is, the secondary system is working up to the spark plug wires.
Repeat the same test with one spark plug - remove the wire, holding it with an insulated tool, and hold it close to the plug. Is there a spark? Is it strong? Does it snap loudly? If so, the entire ignition system is working correctly
electrically. If not, replace your spark plug wires.
Next, remove a spark plug. Connect the plug wire to the plug and hold (
always with an insulated tool!) the spark plug tip against the engine (touching the engine.) Is there a spark across the gap of the plug? If so, your plugs are probably good.
Once you've done that, what's left is timing (is the distributor installed correctly so that's firing on the right cylinders? Is the timing close enough that the plugs can ignite the fuel?) and dwell (Is the gap in the points set correctly? Are the points opening correctly mechanically? Is the cam on the distributor worn? Are the points "hanging" or getting stuck?)