Abstract: A mechanical pencil of the collet-action type is provided with a collet member formed of a pair of identically configured mating half shells guiding and clamping the lead. The half shells are maintained in fixed relation with respect to one another by means of an annulus cooperating with a conically flared portion formed at one end of the collet member, whose diameter is partially reduced corresponding to the inner diameter of the annulus, and by means of a cap at the opposite end of the collet member. The parts are assembled by first sliding one and then the other one of the two collet shells through the annulus into mating relation with one another and thereafter fitting the end cap over the end of the mating shells. All parts of the pencil are maintained in assembled relation by a compression spring.