Abstract: A tool box is for holding a plurality of tools and tool parts. The tool box includes a base, a lid and at least one tray. The base has at least one row. The lid is attached to the base. Each tray has at least one receiving device adapted to receive one of a predetermined tool and tool part. Each tray is releaseably attachable in a row and includes a magnetic method of holding the tray in the row. The tool box may include a plurality of rows. The magnetic holding method may include a metal strip attached to the bottom of each row and a plurality of magnets attached to the bottom of each tray.

Abstract: A plug cutter is for use in association with a drill, drill press and the like and is for producing a plug. The plug cutter includes a shank, a body portion, an outside cutter and an inside cutter. The shank has a longitudinal axis and is adapted to engage the drill. The body portion is integrally attached to the shank and extends downwardly therefrom. The outside cutter extends downwardly from the body portion and the inside cutter extends downwardly from the body portion and is spaced from the outside cutter. The outside cutter may have an outside cutting edge with a positive rake. The inside cutter may have an inside cutting edge with a positive rake.