The torque of precession for a spinning wheel is related to the external torque acting on it, but it is not simply equal to that torque. The discussion highlights the stabilizing effect of spinning objects, as seen in experiments like the bike wheel. To calculate the force needed to overcome this stabilizing effect, one must consider the angular momentum and the rate of precession. The provided links offer additional resources for understanding the physics behind gyroscopic motion and precession. Overall, calculating the torque of precession involves understanding both the external forces and the properties of the spinning object.