Magnetostratiographic studies of a continental sedimentary sequence in the Clark's Fork Basin, Wyoming and a marine sedimentary sequence at Gubbio, Italy indicate that the Paleocene--Eocene boundary occurs just stratigraphically above normal polarity zones correlative with magnetic anomaly 25 chron. These data indicate that the older boundary of anomaly 24 chron is 52.5 Ma. This age is younger than the late Paleocene age assigned by LaBrecque et al. [1977> and also younger than the basal Eocene age assigned by Ness et al. [1980>. A revised magnetic polarity time scale for the Paleocene and early Eocene is presented in this paper. Several changes in the relative motion system between the Pacific plate and neighboring plates occurred in the interval between anomaly 24 and anomaly 21. A major change in absolute motion of the Pacific plate is indicated by the bend in the Hawaiian--Emperor Seamount chain at ~43 Ma. The revised magnetic polarity time scale indicates that the absolute motion change lags the relative motion changes by only ~3--5 m.y. rather than by >10 m.y. as indicated by previous polarity time scales.