If you're absolutely sure you have no spark..........
There is a black wire leading from one set of points up to one of the "M" terminals of the ignition switch and another black wire leading from the other set of points to the other "M" terminal of the ignition switch.
When the key is in the OFF position, the two "M" terminal are connected within the switch effectively shorting out the ignition, BUT with the key in the ON or START position the two "M" terminals are not connected within the switch which allows the ignition to engage/function.
To test the switch for shorts, simply unplug the cable at the engine that connects the engine to the key switch. Remove the spark plugs and test for spark. If you now have spark, replace the ignition switch.
If still no spark, you may simply have dirty points.... check and clean them with lacquer thinner or acetone.
Still no spark.... the driver coil (under the flywheel) may have failed. cracked open, etc.
If you find that you do have spark and the engine still won't start, suspect that the carburetor needs cleaning.