Try a bit of cleaning/lubrication before you try to strip/replace it. Something I managed to get away with with my 1979 R65 - especially as you just have a slightly sticky operation, rather than no operation at all.
These items are expensive to replace and difficult to strip/service - BMW specified that they are a non rebuildable item.
If you have no luck, you can always replace the ignition with a Boyer etc.
However, I am still running my points bean can on my 1979 R65 Cafe Racer at 115,000 miles(aprox) so they can remain serviceable for quite some time.