Can't locate that model number, but......
If the coil is OUTSIDE the flywheel, just replace the coil with a new soild state one, cut the wire leading to the points and connect the STOP wire to the tag on the new coil. Job done - 20 mins max. A new coil from B&S will cost about £30, but a coil off any side valve Briggs engine of similar size will fit. Ebay - £15 max.
If the coil is UNDER the flywheel, there are a couple of options - come back here and I'll advise.
phil_saunders(a)bigfoot.com
Phil Saunders, April 2009