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KULTULZ
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See if this helps explain it - https://www.youtube.com/watch?v=GL6s2DwqH_0The above video is third in a series of five. The fifth video shows assembly and includes the torus assembly (towards end) showing the gasket placement in question.
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KULTULZ
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 The photo is showing the torus cover (7910). That bolts directly to the flywheel with a large gasket to contain the fluid (see PARTS ILL above). The fluid contacts the flywheel also (unlike a more understood torque convertor). Without the gasket between the crank flange and flywheel, you will have leakage. One area where the Hydra-Matic differs from contemporary automatic transmissions is the fluid coupling, which is not a torque converter, but a torus. A torque converter uses a stator, which allows it to multiply the engine's torque; a torus does not have this feature. The use of a torus is part of the reason the Hydra-Matic has four speeds; first gear is extra low (3.82:1 on early units, 3.96:1 on later designs) to assist in accelerating from a stop in the absence of additional torque and fourth gear is 1.0:1, not overdrive as found in later four-speed automatics.
SOURCE - https://www.hemmings.com/stories/article/gm-hydra-matic TRY HERE - https://www.fatsco.net/
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KULTULZ
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It was a 3" o ring. It was from Charlie's transmissions. The link is above. I asked him if a gasket is required and he stated that he's not a mechanic.
Now ain't that some shiat.
Operate an AT PARTS HOUSE and has no idea what is needed for a particular transmission.
The gasket came in the 317 ENGINE OVERHAUL GASKET SET also.
The torus is basically just a convertor and there is fluid inside of it.
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B-rad
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This is the tranny. It's sealed. 
Brad
Sierra Vista Arizona
1954 Lincoln Capri
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B-rad
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It was a 3" o ring. It was from Charlie's transmissions. The link is above. I asked him if a gasket is required and he stated that he's not a mechanic.
If a gasket is required, any idea what material it would be made of?
My mechanic said the same thing someone earlier said, that it would cause a wobble if or when it wore down. He was quite sure that one isn't needed. I don't see where fluid would be near that area to leak out.
Brad
Sierra Vista Arizona
1954 Lincoln Capri
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KULTULZ
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If your Lincoln has a Hydro, then a gasket would be needed because the
transmission side of the flywheel is exposed to the fluid and would leak out between the flywheel and crankshaft
without a gasket. I would think sealant would be required on the bolt threads also.
What the man said. It is needed. Study how the torus is assembled.
I thought I read where you found one. Can you give the source?
MAINTENANCE MANUAL - https://www.autopaper.com/1954-lincoln-mercury-mechanic-service-training-manual-hydramatic-transmission-2.php
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55blacktie
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If the diagram is correct for your application, it shows part 6377 between the converter and the crankshaft flange. It's identified as a gasket. Were there two different transmissions used in the 54 Capri? My knowledge of these cars is pretty much zip.
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B-rad
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Just talked to my rebuilder. He said there is nothing between the crank and flywheel. That answers that
Brad
Sierra Vista Arizona
1954 Lincoln Capri
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Joe-JDC
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Some Ford flexplates have a metal ring that fits there. It gives more strength to the flexplate mounting area to prevent cracks. The ring fits between the flexplate and the bolts sort of like washers under the bolt heads. I am not familiar with the 317 personally. Just have built dozens of Ford engines over the last 62 years or so. Joe-JDC
JDC
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B-rad
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There is a gasket between the flywheel and tranny. And it is called hydramatic
Brad
Sierra Vista Arizona
1954 Lincoln Capri
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