An HTS (high temperature superconducting) coil without insulation has been investigated since a metallic insulation was suggested in the mid-1980s. The advantage of an insulationless HTS pancake coil is that it is more stable than an insulated HTS pancake coil. This paper focuses on the various characteristics of the insulationless HTS pancake coil related with stability, especially under the external magnetic field. Because HTS pancake coil may be influenced by the external magnetic field in a real operational environment of electrical devices. First, charge-discharge test was performed for the characteristics evaluation of the insulationless HTS pancake coil as compared with insulated HTS pancake coil in liquid nitrogen at 77 K. Based on the experiment results, characteristics evaluation of the insulationless HTS pancake coil was implemented under the external magnetic field. In order to carry out the experiment, we have fabricated a cylindrical solenoid coil to apply the magnetic field. The various characteristics of the insulationless HTS pancake coil were evaluated for charge-discharge and over-current conditions. This paper proves that the insulationless HTS pancake coil is more stable than the insulated HTS pancake under the external magnetic field.