In Red the Amulet Coin item does not exist.
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You can find an Amulet Coin in the Goldenrod Department Store basement.
No, only in the later versions of the game do you have the ability to make Pokemon hold items. (Amulet Coin is a item that only works if Pokemon hold it) P.S. Meowth!
Amulet Coin is a Hold Item, and Blue version did not have the capabilities of attaching Items to pokemon. Gold, Silver and Crystal were the first games to come up with the Amulet Coin, and you can not transfer to blue via Pokemon Stadium 2 Color Case and Metal Case.
The amulet coin is in the Goldenrod Department Store Basement (you get to it through Team Rocket's hideout in the underground path).
The amulet coin is in the basement of the pokemart in goldenrod while you defeat the rockets that take over the radio station