Re: 1969 Merc. 800. Thunderbolt/No spark
If you are talking about the main ignition coil (between the switchbox and the distributor) then you probably either have:
A bad coil
A bad switchbox, or
A bad stator
The coil is still available from Merc (about 185 bucks), the switchbox, which sold for almost $550 is long discontinued and out of stock and likewise the $350 stator is also discontinued/out of stock.
Personally I would start by spending 35 bucks for a Seloc's manual which will give you all the troubleshooting techniques and specs for the ignition (amoung other things).
Then go through the ignition and isolate the exact problem. Then if you can find parts (old stock or used) determine at that point if the motor is worth fixing or if you would be better served parting it out, selling off the parts and investing in something a little more modern.
It's not that it was a bad engine, it's just when it's a major chore to find a necessary part, and then you spend a fortune when you do, that can lead to "no fun" and "lots of down time"....