what is the liquid is in it

Vitamin c said

UHHH!, pcb's maybe?? Id seriously doubt its old enough to have oil with hazardous material in it. That stuff went out of use years ago.

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well if the coil is from the 80's it most likely does have PCB's in it

also to the OP, if you need a 12,000 RPM coil you must be running a ninja engine, no Chrysler v8 product will rev past 7000 RPM without major work, most are done at 6000