In most of the recent determinations of the geocentric gravitational coefficient (GM) of the Earth, the laser ranging data to the Lageos satellite have had the greatest influence on the solution. These data, however, have generally been processed with a small but significant error in one of the range corrections. In a new determination of GM using the corrected center-of-mass offset, a value of 398600.4415 km3/sec2 (including the mass of the atmosphere) has been obtained, with an estimated uncertainty (1 &sgr;) of 0.0008 km3/sec2. ¿ American Geophysical Union 1992