is it coming out of the little holes on the water pump?? these are called "weep holes" and when you see coolant seeping from here, it is early warning sign of leaking internal shaft seal...time for new water pump.

Your coolant temp. is low...put in new thermostat...normal dash temp with new thermostat is 90-95C.

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1984 300TD Wagon, 407,800 mi (current daily driver)
1985 300DT Sedan, 330,000 mi (gone to that great autobahn in the sky)