Wires?

[ramwing7]

Below is the inside of my Wico magneto.  I inherited a lot of questionable wiring that I've guessed out, but one still has no home.  In the pic below you see two wires coming into the ignition system.  One attaches to the points which I'm thinking is the ground that hooks up to the ignition switch.  The other was coiled up under the bracket and attached to nothing (I don't know where the other end attaches either).
Can anyone help me out?
Thanks.
It's a 1952 Model M.

[Ricks]

Your condenser is in the wrong place.  There will be one wire from the coil to the condenser. On that same terminal will be the connection to the points and another wire that runs up to the ignition switch.  The other terminal on the ignition switch goes to ground.  I like to run the ground back to the magneto backing plate, as I usually powder coat my frames and do not get good grounds the the frame. Below picture is from the manual.