This system was used for the guitars distributed by L. In the late '70s as production grew, the serial numbers begin to get ahead of themselves since only 1000 numbers were available in a series.
The overdrive and OD-II had a different, much more distorted, fuzzy circuit close to a Big Muff.
This third iteration of the label had “Fred Gretsch Mfg. and serial No., and it said “That Great Gretsch Sound” at the bottom. The 5-digit numbers on these labels always begin with 1 or 2 and are sequential, do not follow the “date-coded” convention, and precise dates cannot be determined using the serial numbers.
In 1973, the 2nd iteration of the Baldwin era Gretsch label was introduced.
Although neck-through production never surpassed approximately 2200 guitars a year, as the '80s progressed, the serial numbers continued to get ahead of the actual year. These do not follow the same XXYYY dating scheme as the neck thru models.
If a guitar has a number of 89321, for example, it was probably built in 1987, but it could have been assembled a bit earlier or later than 1987. The serial numbers are a bit hard to date because there was no uniform way they were assigned a number at Bernie's original shop.
These serial numbers were also either 5 or 6 digit numbers, depending on the month of production.