1970 340 Swinger steering column gets hot

TrailBeast said

Also keep in mind that this could be engine compartment/manifold heat drafting up the shaft, and may not be an electrical issue at all.

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Very much could be true...you could test for this. Turn key on, and whatever else..disconnect your ignition from the coil, maybe a battery charger and let the car sit for an hour.....see if the column heats up....good one @TrailBeast !