Abstract: A storage receptacle for drill bits having collars thereon, comprises an elongate tubular body having a longitudinal passage therein. The body has at least one end open through which drill bits can pass into the passage. The open end is provided with a closure device. The body has internally on each side defining the sides of the passage an inwardly-directed channel longitudinally thereof. The channels are mutually opposed and are adapted to receive and hold collars of the drill bits from axial movement while permitting movement along the passage with at least the point and cutting edges of the drill bits held spaced from the internal sides of the body.