My RadioShack soldering is dead... I am lost.

Until now, I have used an old RadioShack 64-2185 soldering iron to do basic soldering. Today I pulled my trusty RadioShack soldering out to do a basic repair and discovered that it is simply not operational.

I am tempted to try to repair it, but my knowledge of electronics repairs ends at identifying shorts and broken connections in wires.

I pulled this little guy apart and discovered a large copper coil and I really am unsure where I would even start in diagnosing this. Pointers?! Or should I just get a new bench top soldering iron and give this RadioShack iron funeral and burial place?