no,seals,seal the valve stem were it slides in the vlave guide to keep oil from working down the stem into the comb chamber,where it burns and cause the engine to smoke.
those heads have the hard seat already for unlead gas..
look for pits on the exhast valve edge and the seat part in the head that the valve seals off on,pitts cause it to leak.
before you take the valve out,set it up and pour some water in the port to see if the valve leaks
thats 1 way to see if it needs a valve job.
which they regrind the seat and valve edge with 3 angles or more,to seal it and not leak. doing a valve job at the machine shop..
with the spring off,see if you can move the valve stem tip back and forth.that checks the wear on the valve guide..