I'm not sure if this will help, but I have one of those coin prices magazines, and it lists:
1939 TI, wavy steps, Rev. of 1939
1939 TII, even steps, Rev. of 1940
Then the same as above for 1939 D and 1939 S
It also has 1939 Doubled Monticello TII
So maybe it means that some 1939 nickels have wavy steps, while some have even steps, like in 1940.
But, as xshift said, it would have to be nearly unc. to tell.