Sort of not really. You would need to crank it over at around 60 RPM to get any real juice out of it. At hand crank/start speed it's hard enough to hear the coil buzz anyway.
Actually, if you happen to have one of these you can - http://www.funprojects.com/products/MT-1.aspx - this is a copy - I have an original and all one needs to do is a single 1/4 pull to see if the needle registers - has both scales for the early thinner magnets and the later 3/4" ones too - great tool !