Sounds like the resistor has failed.. It is a spring looking thing that supplies voltage to the coil after starting.. The starting circuit sends 12 volts from the key and the resistor sends bout 6 or 8 volts after the key is turned to the run position.
Put it in run and check the coil for voltage..
Big JIm <img src="/forums/images/graemlins/pfft.gif" alt="" />

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