Re: Interchange of 1964 and 1968 650, 65 hp parts
I also have several 650s, three to be exact, one as you have with a magneto and starter but no charging system.
If your originally had a charging system it will have magnets around the inside circumference of the underside of the flywheel. My old motor has no magnets.
The charging system is simple. The flywheel and it's magnets. the stator coils that mount on top of the top of the motor under the flywheel and the rectifier. Two wires from the stator coil go to the inputs for the rectifier. On most one wire goes out to the battery and the case or stud on the rectifier is ground. It is completely isolated from the rest of the electicals except for the battery lead.
That's it. There are several kinds of rectifiers and even aftermarket parts that will work. Stators are available online. If your flywheel has no magnets you need a new one that does. you need a flywheel puller to get it off or I suppose you could just change the rim part and leave the center part on the shaft, but I'd want a matched set. Maybe some old merc guy could counsel you on that. If your flywheel has magnets you are halfway there.