Here is the Illustrated Parts List for your engine:
http://bsintek.basco.com/BriggsDocumentDisplay/Z6nlxBVJ1DajI.pdf

Here is the Operator's Manual:
http://bsintek.basco.com/BriggsDocumentDisplay/msozHP-K_ny7tH217FzoPu.pdf

The engine was made on 27 June, 1987, in Briggs' Plant 12, which has long since closed so I can't even tell you where it was located.

Your engine was made after the introduction of Magnetron electronic ignition, so it has no breaker points. A small pickup in the ignition module triggers the ignition when the flywheel magnet is passing underneath it. Consequently only two wires will be coming out of your module: the high tension wire, and the kill wire. The kill wire is a thin black lead, which slides onto a spade connecter on the module. The sole purpose of this lead is to stop the engine by shorting out the ignition primary. Probably the most common cause of ignition failure on Briggs engines, is the kill lead becoming grounded due to a defect either in the black wire, or in the kill switch at the far end of the wire. This switch usually operates automatically when the speed control is put in the minimum speed position, at the opposite end of its movement from the maximum speed or choke position.

The first test to make, after checking that the module is correctly installed, is to carry out a spark test with the kill wire disconnected at the module. However, first you need to verify that the module is grounded to the cylinder block, and is placed the correct distance from the flywheel. You should be barely able to fit a standard business card between the flywheel magnet and the metal yoke of the module.

Do not test the ignition with the spark plug installed. If it starts, with the kill wire disconnected you will have no safe way to stop it.