If you are using an oem Ignition Coil, the voltage needs to be lower than battery voltage while the Ignition Switch is in the Run position, as excessive voltage will cause it to run too hot. The 1973 Ford Shop Manual states the voltage at the positive terminal of the Ignition Coil should be between 4.5 and 6.9 volts when the negative terminal is grounded (simulating closed ignition points). If you are using an aftermarket Ignition Coil the voltage required could be either the same as an oem Ignition Coil (4.5 - 6.9 volts), or full battery voltage IF the coil is designed for full battery voltage (not all are designed for 12 volts).
I know the Pertronix Ignitor 1 version of their aftermarket electronic ignition system requires the resistor wire to be in place for the Ignition Coil, although they want full switched battery voltage for their Ignitor I Module (#1281) inside the distributor. If you use their Flame Thrower 1.5 or 3.0 ohm aftermarket Ignition Coil (40001, 40011, 40111, 40501, 40511, & 40611), those specific coils require full battery voltage to operate properly as well. Other electronic ignition systems will have different Ignition Coil voltage requirements depending on the coil being used.
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