Abstract: A fastener driving system and a fastener holding tool therefor having a shank and a resilient retainer with a bore therethrough coupled to a first end portion of the shank. A first end of the resilient retainer and a portion of the resilient retainer bore protrudes axially beyond the first end of the shank. In some embodiments, an annular chamfer is disposed on the resilient retainer between a first end and the bore thereof. The system includes a fastener having a shaft with a head formed on a trailing end portion thereof. The fastener head diameter is greater than the retainer bore diameter of the resilient retainer protruding axially beyond the first end of the shank to engage and retain the fastener.