I'm trying to remove the stem from an old Peugeot. There is a hex bolt on the top of the stem which I assumed was connected to a wedge. I unscrewed the hex bolt and it came all the way out. I can now look directly down through the stem, down through the fork - there's no wedge in there! The stem and fork turn as one.

Is it possible that the previous owner lost the wedge during maintenance (it wouldn't be the only screw-up with this bike) and the stem and fork are held together only by rust? They seem pretty solid.

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