Freeing a Stuck headset
 

Hi, working on an early 60s Schwinn Hornet. The headset is held not by a large nut, but by a metal ring with a rough, gripper-type surface. It won't take a wrench because it's round. Anyone have any experience with freeing such headsets up so they can be adjusted?

Does it have vertical holes around the top? If so, you can remove it with a pin spanner. Otherwise, I'd try a small strap wrench, similar to the ones used on oil filters. You can get them at your hardware store or LBS.

You can always use a set of channel locks, wrapping tape around the locknut first.

I use a goofy Craftsman tool called a 'RoboGrip" for this. http://www.robogrip.com/products01.html