[Daves55Sedan]

The air-cooled converter flywheel plate o-ring gasket is a common leak point. The gasket can shrink and crack with age. The o-ring fits around the back of the front plate just behind the starter ring gear. Once it is torqued down, it gets smashed into a triangle shape and provides a good seal. Get the converter hub seal while you are at it and inspect the thrust washer for excessive wear. Be careful to insert the thrust washer back in the same direction it came out. These gaskets can be purchased from many repro parts suppliers separately, and they are are included in a Ford-O-Matic rebuild kit.