Front Fender Question re: Upper Rear Corner Stud?

[Dibbons]

I am fine tuning fender gaps but I can't tell by looking--Is that round piece under the threaded stud in the fotos a loose washer or spacer, or is it welded permanently to the stud? If the fender needs to be lower there, I need to know my options. Thank you

 

[69 mayflower]

That should be a round spacer as installed by the factory. not welded, use a thinner body shim to lower.