Clean up that old stem.
This is a replacement wedge nut for a vintage Tuf Neck or Pro Neck stem for your old school vintage BMX bike.
This wedge fits the coarse thread (16) versions of the bolts.
Make sure you know which thread pattern and wedge nut style you need. Some versions of the stems used a fine thread (24) bolt and wedge. Make sure your quill is compatible with this wedge. Some of the newer versions of the Tuf/Pro Necks use a different style quill and wedge.
Black oxide hardened steel.
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