"HERE":http://www.mopedriders.org/article_view.php?faq=2&fldAuto=52 is a manual for '77 express..
before suspecting bad components, go through the wiring, especially the kill switch and key/ignition wiring.. If either the ignition is "off" or the engine stop switch is "on" it grounds and kills the spark.
This wiring (page 27-1 in the manual) looks very similar to the Hobbit, except for the battery. It's fuzzy but i can make most of it out.
You should be able to just bypass all harness wiring and switches by connecting the black (white stripe?) wire coming out of the magneto directly to the condenser. Kicking it over should give a spark if all ignition components are functioning.
On the Hobbit the ignition coil and condenser are at the rear of the bike and it's see the condenser wire and hook it to the magnito ... If your condenser is inside the magneto, i don't know if it's gonna be easy or difficult.