Knowing how the stuff works is helpful. This thread has already covered some of it:
Power to coil positive is constant whenever the key is on (but whether it is as much voltage as it is supposed to be, you have to verify).
The connection from coil negative to ground goes into the distributor, through the points when they are touching, and into the distributor body which SHOULD be grounded but may not be, or not very well (again, something to verify).
The ignition coil produces high voltage when the ground is taken away from it or opened. A lot of people don't know that. Current must flow through the coil long enough to 'grow' the magnetic field inside the coil. When the circuit is interrupted, the magnetic field collapses, moving very quickly across a set of windings inside the coil which induces voltage inside it.
The thing that's important about that that hasn't been mentioned is the adjustment of the points. Just because they are touching doesn't mean they're working. For one thing, the surfaces can get ugly. I run fine sandpaper/emory clotch between them occasionally. But the other thing is that they can touch too briefly to give the coil sufficient time to reach magnetic 'saturation' or a fully grown magnetic field. Since the points are spring loaded, adjusting them closer or further isn't just to make sure they touch at all, it also determines how long (how many degrees of distributor rotation) they stay touching. That's called the 'dwell' time and if it's too brief the coil will not create enough voltage to get a reliable spark. So, check the gap on your points (which by extension is verifying the dwell time).
The condenser... exists?! Any time you turn off an electromagnet, that quickly collapsing magnetic field crosses the wires that made it and induces a voltage back onto it. So when you turn off an electromagnet, the voltage goes UP (briefly). The condenser is a capacitor that essentially 'eats' or rapidly converts that voltage spike into a stored charge which is then discharged slowly when the points connect again. The point of doing that is that it shortens and weakens the spark/arc which occurs at the points when they touch and separate from each other, which decreases wear on the points.
The coil itself can also be bad or mismatched. If you can find the specs for it you can measure the resistance of the coils two circuits. The 12v circuit (called primary winding) is usually low single digit ohms, sometimes barely over 1 ohm. The high voltage circuit (called the secondary winding) has a ton of small wire in it and usually has something from 8-20 thousand ohms. To check resistance you much touch two points. The not-obvious thing about the secondary winding is that aside from the obvious hole where you put your coil wire, the other point you should touch is just one of the primary winding terminals. The secondary circuit is T-d into the primary circuit and it doesn't even really matter which terminal you measure from (coil positive or negative) because the primary has only a few ohms of resistance which makes no difference in a sea of 10,000 ohms. Even if you don't know what the specs are, this allows you to identify big outliers like coil primary having 20, 30 ohms or coil secondary having 900 ohms or 60,000 etc. The fact that you have spark somewhere, sometime suggests the coil 'works', but again how well? It doesn't hurt to do the tests.
So, check point gap, point surfaces, ohms from points to battery ground. Check actual voltage at coil positive while cranking. If the spark is getting into the distributor but not back out of it, you most likely have a problem where the electrical contact point in the center of the distributor rotor connects to the center of the inside of the distributor cap, or a problem at the other end of the rotor where it jumps across to the terminals around edge of distributor cap. The coil has to make TWO simultaneous sparks in a distributor system (one from rotor to cap and another at the spark plug), another thing a lot of people don't realize. So if you can get one spark (a spark tester, or holding coil wire near a ground) but cant get TWO sparks (ie spark at the plug end of the plug wires coming out of the distributor) that may all relate back to the coil not making sufficient voltage because the dwell/points adjustment is wrong, or there's low voltage into the primary circuit, or the ohms from coil ground to battery negative are high because of a bad connection somewhere.