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This happened in my '84...
The problem is in the ignition switch where once you let go of the 50 track ("start" position) it goes to a little spot clockwise of the contact for the 30 track ("on" position). It happens when a cheap ignition switch is used and it wears this gap between the contacts. The way you can test for this is to immediately put a little counter-clockwise pressure on it after the engine starts to hold it against the contact before the engine dies.
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