Could be the switch or it could be a bad ballast resister by pass wire or connection
 
Does that still have points?

Check the pivot plate the points are attached to. Those had a plastic pivot that was known to heat bake and crumble. That would let the plate move around and the points not stay set.
A weak spark will also cause that. Check the spark at the plug end of a few wires, should jump 1/4" minimum while cranking. A low/weak battery, bad connections, or a dragging starter can cause weak spark while cranking.

Could be the ignition switch, put a test light from the + side of the coil to ground, turn the ignition to start, watch the light. It should be on when the ignition is on and in the start position.

If it has a resistor bypass, there will be a wire on the R terminal of the solenoid. Pull the wire off, put the test light from that terminal to ground. Should get a light when the solenoid is energized and cranking the engine.
 
It could be that it only starts when you let go of the key because the spark is too weak to start it when
you're cranking and then gets hot enough when the starter circuit drops out. Run a temporary jumper wire
from the battery to the switch side of the coil and see if it starts as it should.
 

My '69 Yale is that way. The switches don't last so I keep a spare on hand. The current switch is maybe ten years old. I am intending to run a new resister bypass wire when it comes to the top of the list which may be a month or 15.
 
(quoted from post at 12:11:01 10/14/19) Why does my pickup start only after I let go of the key?
I think the ignition switch is bad.
elieve that year used solenoid connection to bypass ballast resistance wire during starting.....check that.
 

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