I took my car for a drive and when I got back I noticed there was some kind of fluid on top of the valve covers. Then I noticed my oil filler cap was a little loose so I assumed it was oil. I put the cap back on securely and checked the oil. The oil level was fine but seemed a little lower than normal. I thought this would fix the problem so I cleaned everything up and took the car for another drive. When I got back I had the same problem fluid on top of the valve covers. This time the oil filler cap was on securely. The fluid is on both valve covers but there is more on the passenger side. I can't figure out where the fluid is coming from. I took a few pictures so you guys can see what I'm talking about. Any advice is appreciated.

not trying to be a smart ***, but cant you tell whether it is oil or antifreeze
how old is the engine? it may be blow by from your breathers
it may be your intake leaking antifreeze

Flat tire no offense taken. I am new to working on cars so everything that goes wrong is a learning process for me. The fluid looks pretty clear so it may be antifreeze. The oil was changed recently so it is pretty clear too. The engine is the original numbers matching engine so it is pretty old but appears to be in good shape. When I bought the car I was told it was rebuilt five years ago but I don't know for sure. The car runs great. Tomorrow I'm going to leave the hood up and let the engine run and see if I can see where it is leaking from.

Is the bottom side of the hood wet?
I see no PCV in one valve cover, could be condensation from temp change of engine valve cover?

I agree...there doesn't appear to be a crankcase ventilation circuit at all. Also, if you look closely at the one breather, you can see oil lying on the perimeter of the bottom of the cap. My guess...with no crankcase cross ventilation, blow-by is pushing oil out both breathers.

There was a little fluid on the underside of the hood and on the firewall. Maybe you guys can educate me a little. What does the PCV valve do. Also I assume the breathers are the two round caps coming out of the valve covers but what is blow by. If it is blow by how can I fix the problem. Do I need new valve covers with a PCV valve. I bought the car in November and it sat most of the winter. I have been driving it since March with no issues. It recently started to get hot and humid here in PA if that would make a difference. Here is one more pic that shows the entire engine maybe it will help shed some light.

In the old days the block had a tube out the side to vent crankcase pressure ... out onto the road
Then the greenies came alone and the engine manufactures put a valve (PVC) in the top of the tappet covers and connected to manifold vaccuum to suck any crankcase pressure back into the engine and burn it
The PVC valce specs is designed to work with the engine vaccuum specs and any access crankcase pressure

It's just condensation. Those breathers you have let all the normal crankcase gases vent out under the hood and it's just condensing or clinging. To lessen it you're going to need to go to a PCV valve and an air cleaner setup that will allow attaching a tubed breather to it from the opposite valve cover. You could leave just one breather like you have and use a PCV but when you shut the engine off then the boil-off is going to vent out of it and possibly that oil filler cap you have. Drive one of your new cars for about twenty minutes, then pop off the oil filler cap to watch what comes out.

Don't worry, it's most likely not harmful blow-by. Every single time you run and shut off your engine, combustion byproducts and normal air condense in the engine and then steam-off the next time you drive your car.

Justin,

To answer your questions, "PCV" = Pollution Control Valve. It is a one way valve that vents the crankcase pressure back into the intake circuit where it is burned as a part of the normal combustion process.

"Blow By" is the combustion gasses that escape past (or blow by) the piston rings during combustion. Every internal combustion engine has this and requires a way in which to vent. What the others are saying is that there seems to be no crankcase vent in your set up.

Hopes this helps

I thought PCV was Positive Crankcase Ventilation. It looks like one of the valve covers (passanger side) is "misted" with the liquid, and the other (driver) had liquid drops on it. Does the liquid smell sweet (coolant) or like gas? Fred

I stand corrected. Apparently I was going from my feeble old mind. PCV does stand for positive crankcase ventilation as you stated.

Take a white paper towel and soak some of it up. Look at your coolant. Same color: Coolant? Black or brown-ish: probably oil? No smell to it and clear: plane, old condensation.

Thanks for all the info. I'm going to look at the car again tonight and see if I can determine exactly what the fluid is. If it does turn out to be condensation can any one recommend a good air filter system and valve covers that will allow me to hook up a PCV valve. Engine is stock 327. Right now it has an Edelbrock 1406 carb but I will most likely be putting the original quadrajet back on in the near future.

You should get either a cap capable of holding a OE design PCV valve and hose it over to the carb base in the rear, of an Eddy carb.

Edelbrock Pro Flo air cleaner and breather. The Pro Flo comes with the fresh air adapter to connect the breather. Just need correct PCV and some crankcase ventilation hose from the parts store to finish it off.

http://www.summitracing.com/parts/edl-1221
http://www.summitracing.com/parts/edl-4410

If you want to retain your existing air cleaner, you can buy just the fresh air adapter and install on your base or buy a base with tube.
http://www.summitracing.com/parts/edl-1205/overview/

Your oil cap may also be vented but I've personally never liked pulling air from anywhere but the air filter to be sure there's nothing entering the crankcase.