Abstract: A punch holder and stripper assembly is shown in which a punch holding body is provided with a reduced outer diameter boss section projecting therefrom terminating in an end face which has a bore opening thereinto which receives the punch, the punch projecting from the reduced diameter section of the holder and terminating in a punching face. An elastomeric stripper, preferably of a type of urethane rubber, is attached to and carried by the punch holder. The stripper has an inner diameter received around the reduced diameter portion of the holder and extending beyond the holder in radially spaced relationship with the projecting portion of the punch. The stripper either terminates adjacent the punching face or is equipped with an end cap terminating adjacent the punching face.