Oil in Coolant

[bowez]

Looks like my daughter's first car will be a 97 4.6 Tbird. Currently it has oil in coolant, buying as if the head gasket is failed (drives fine though). I'm personally leaning toward filter adapter gasket, is this a valid assumption or what else could I be looking at? Haven't done a compression check nor exhaust gas check. I haven't seen white smoke nor water out the exhaust nor over pressured coolant.

 

[MadMikeyL]

Oil filter housing gasket is very common on the 4.6, and head gaskets are extremely rare, so I would say that’s a good place to start.