Yes. It's the angled race around the base of the steerer that the lower bearings sit upon. You'll need to remove the old one (with a crown race remover or a flathead screwdriver and a gentle hammer) and install the new one (with a crown race installer or an appropriately sized piece of ABS pipe).
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Originally Posted by
sp00ki
Using a nicer sealed bearing headset vs a $10 set is like throwing a frisbee vs a dodgeball.