Welcome aboard.
Moved this from the Electrical section because it's a motor question. In 1965, Chrysler was in the 2nd year of making Sea Kings and the model number starting with VWB says this is a Chrysler made motor. So you're in the Chrysler/Force section now.
Don't know anything about Chrysler Sea Kings, but for most motors, point gap is set when the cam lobe is on the high point and the points are fully open. Then you adjust the gap.
Hope that's what you are looking for.