and I got a 9.42 vDC reading.
I looked in the service manual for the v4 industrial and it describes the coil part C0NF-12029-A as" Coil Assembly, Ignition -12 volt negative ground with internal primary resistor".
To confuse me even more my coil is not even this Ford part number.
Few more checks need to be done: Disconnect + wire going to coil. Read the voltage just on that wire. Should be battery voltage with or without resistor. If not, you have something else going on.
if battery voltage:
Connect coil back up. Disconnect coil going to points/ control box. Read voltage on + terminal. Should still be battery voltage. If not suspect coil has internal failure.
if still battery voltage
Disconnect + from coil. Hook to a 12 volt headlight, other end of light to ground. Read voltage at light. if 6-8 volts then you have a in line resistor. If battery voltage then you don't. If it is still 9+ then you probably don't have a in line resistor, but do have a resistance issue. If either way low voltage (both resistor and a problem) or high (but not battery):
Common causes of (unintentional )lowered voltage under load:
Bad wire: multistrand that only has a strand or two left intact.
Bad Connection: Corroded splice, loose terminal, poor solder joint
Ignition switch has bad contacts,
ACME product
If you can find the other end of the + coil wire and measure resistance it should be 0 if no resistor, 1.2-1.6 ohms with a resistor.
Unlikely, but worth noting: If someone else has modified the system, you possibly have resistance wire rather than a separate resistor.