Abstract: A hollowed socket comprises a driving portion and an engaging portion; an outer side of the driving portion having a receiving groove; an elastic sheet being installed in the receiving groove; and a free end of the elastic sheet having a positioning block. An inner space of the driving portion is communicated to the receiving groove. The elastic sheet has a shape like “8” and one end of the elastic sheet is a fixing end which is fixed to the receiving groove. The elastic sheet is fixed to the receiving groove by using a fixing unit. The elastic sheet is tightly engaged to the receiving groove. An inner space of the driving portion is communicated to an inner space of the engaging portion.

Abstract: A tool for removal of inner tie rods having a generally cylindrical end includes a hollow tube with a butt plate at one end and an annular collar at the opposite end for attachment to the tie rod by means of three set screws arranged within an angular range of approximately 90°, wherein the tool collar is designed to provide for ease of assembly of the tool by joining the tube to the annular collar.

Abstract: A tool for torquing threaded fasteners includes a socket body having formed therein a fastener-receiving receptacle with an axis of rotation, the receptacle having a plurality of interior faces arranged in a generally polygonal configuration and substantially parallel to the axis, with each of the interior faces having projecting laterally inwardly therefrom a pair of fastener-engaging surfaces with inner and outer ends spaced apart in use substantially axially, each fastener-engaging surface being arcuate and sloping away from the axis from a closed end toward an open end of the socket.

Abstract: A socket-wrench socket is provided having a plurality of longitudinally extending members therein mounted within wall circumferential slots of the workpiece-receiving opening of the socket and secured in place by a flexible web. These members have flat surfaces for engaging the workpiece and are biased into engagement with the workpiece by the web. These members and the slots are formed such that rotation of the socket causes the slots to exert radially inward camming force onto the members at the same time that rotational force is applied to the members. The members translate the camming force to flat surfaces of the workpiece for improved gripping, and translate rotational force to the workpiece for manipulation of the workpiece in the direction of that rotation.

Abstract: A baluster driver tool for rotating a baluster to threadably secure it to a support. The driver tool includes a housing having a connector at one end for connecting it to a drill and a baluster-engaging member at the opposite end for receiving the baluster. The baluster-engaging member includes a cavity that is complementary sized and shaped to receive an end of the baluster. When the drill is activated, the housing rotates about its longitudinal axis causing the baluster to rotate in unison with the housing and securing a threaded end of the baluster into the support. In a second embodiment, a smooth tapered end of a baluster is received within a threaded tapered cavity in the housing. The threads secure the smooth tapered end of the baluster within the cavity so that rotation of the housing causes the baluster to rotate in unison therewith and securing the threaded end of the baluster to the support.

Abstract: An adapter for installing a connector to a terminal post, wherein the connector is attached to a cable, is presented. In an embodiment, the adapter is comprised of an elongated collet member having a longitudinal axis comprised of a first collet member end, a second collet member end, an outer collet member surface, and an inner collet member surface. The inner collet member surface at the first collet member end is used to engage the connector. The outer collet member surface at the first collet member end is tapered for a predetermined first length at a predetermined taper angle. The collet includes a longitudinal slot that extends along the longitudinal axis initiating at the first collet member end for a predetermined second length. The first collet member end is formed of a predetermined number of sections segregated by a predetermined number of channels and the longitudinal slot.

Abstract: The present invention includes a driven socket for a female threaded fastener formed from hexagonal steel stock or trilobe, D shaped stock, or round stock with other gripping or holding means. The driven socket also includes six radial lobes located adjacent to one of the hexagon of equal length sides and equidistant from the center of the fastener for loosening and tightening the fastener. A method of the present invention includes the steps for removing or tightening a threaded fastener from a corresponding bolt comprising the steps of: positioning a socket over a washer-nut; positioning a key to align a locking ring having tabs into a slot in the fastener to hold the socket securely to the locking fastener; engaging a lobe on the fastener to place pressure on a leveraging portion of the socket; and wherein rotating the socket removes or tightens the fastener.

Abstract: An apparatus for facilitating the use of tools on underground pipeline systems including a socket having a polygonal open end, a pliable socket insert having a polygonal outer circumference corresponding to the polygonal socket opening adapted to fit snugly into the polygonal opening and flush with the open end of the socket and a locking device by which the socket insert is maintained within the socket during use. The socket insert is provided with a plurality of pliant inwardly extending projections which deform to the size and geometry of the tool to be employed when the socket is pressed onto the tool.

Abstract: A tool for tightening and loosening a security nut and the security nut associated with the aforementioned tool that allow easy tightening of the security nut, makes it difficult to remove the security nut when using ordinary tools, and makes it easy to remove the security nut if the dedicated tool is used. The security-nut tightening tool used for screwing and tightening the conical, trapezoidal security nut onto a bolt comprises a hollow section that covers and seats the tapered outer surface of the security nut, a rotation grip section that protrudes above the hollow section, a head female-thread section that is linked to a hollow space along the axis of the rotation grip section and screws onto the bolt, an inner tapered surface that is fixed to the inner wall surface of the tool and has the same slope angle as the tapered outer surface and an elastic friction part.

Abstract: Provides is a screwdriver-and-nut wrench-combined tuning tool for radio frequency filter which is capable of preventing a movement of a tuning screw occurred when locking it with a tuning nut by making their combined body, preventing a difficulty of tuning resulted due to a separate use of a screwdriver and a nut wrench when a space for access to a tuning unit is not sufficient, and minimizing an interruption of turns of the tuning screw and the tuning nut by locking or turning the screwdriver and the nut wrench independently. The screwdriver-and-nut wrench-combined tuning tool for radio frequency filter comprises a case, a nut wrench positioned to rotate inside the case for turning or holding a tuning nut, a screwdriver positioned to rotate inside the nut wrench for turning or holding a tuning screw, a nut wrench locking unit that is fitted to the nut wrench or the case for locking the nut wrench; and a screwdriver locking unitthat is fitted to the case for locking the screwdriver.

Abstract: Screw guide is provided and includes a cylindrical member having a first end adapted to rotate a fastener and a second end adapted to receive torque from an external source and transfer the torque to the fastener, a stop ring engaged with the cylindrical member that is adjustable to control the movement of the fastener with respect to the screw guide. The screw guide may also include a sleeve that surrounds the cylindrical member and the stop ring and a stand off ring that is engaged with the cylindrical member.

Abstract: A wrench assembly a housing that has a top wall, a bottom wall and peripheral wall extending between and attached to the top and bottom walls. The top wall has an opening extending therethrough and through the bottom wall. A first gear wheel is positioned in the housing and has an aperture extending therethrough. The aperture is aligned with the opening. The aperture has a hexagonal shape. A second gear wheel is positioned in the housing and is in communication with the first gear wheel so that rotation of the second gear wheel causes rotation of the first gear wheel. A shaft has a first end attached to the second gear wheel. A fastener may be extended through the opening in the bottom wall and into the aperture so that aperture engages the fastener and is rotated by the first gear wheel when the shaft is rotated.

Abstract: A holding socket for a fastener having a nut arrangeable on a threaded element, and a washer located between the nut and an object, the holding socket has a body having two opposite ends with a first end connectable to a part of a power tool and a second end which is axially spaced from the first end and connectable with the washer so as to hold the washer against rotation, and a locking element located in an area of the second end of the body and displaceable transversely to the body between a position in which it is located axially between the second end of the body and the nut and therefore prevents a removal of the socket from a fastener and another position in which it is no longer located axially between the second end of the body and the nut, and therefore allows withdrawal of the socket from the fastener.

Abstract: A driving tool includes a driving shank having a handle for rotating the driving shank and having an engaging hole formed by two or more spring blades for receiving a fastener, and an actuating device for actuating the spring blades to move radially inward and to force and grasp the fastener to the driving shank, for preventing the fastener from being disengaged from the driving tool inadvertently. The actuating device may include a barrel slidably engaged onto the driving shank for moving the spring blades to grasp the fastener to the driving shank with such as an inclined engagement. A control ferrule may be used to move the barrel relative to the driving shank.

Abstract: The present invention is an attachment that fits onto the head of a wrench to magnetically hold a nut. The attachment has a magnetized surface and a side surface to friction fit onto a wrench. Fit is further improved by magnetizing the side surface. By holding the nut, the attachment allows for operation of a wrench in restrictive spaces where manual holding of the nut would be impossible or impracticable. Making side surfaces of the attachment out of plastic allows the attachment to adapt to different sizes of wrench heads. A hole in the attachment allows a bolt to pass through the attachment as it passes through the nut.

Abstract: A ratchet wrench, the ratchet wrench having a head portion defining a substantially cylindrical inner engaging surface and a plurality of ribs extending radially inward therefrom. The socket includes a first portion defining a plurality of depressions axially aligned with the longitudinal axis in an outer surface thereof, the first portion being releasably received by the substantially cylindrical inner engaging surface, and a second portion including a cylindrical outer surface and defining a hexagonal recess therein. A grip ring includes a knurled outer surface and is disposed on the second portion outer surface. A magnetic insert is received in the hexagonal recess.

Abstract: A quick release bit socket assembly includes a socket and a screw bit is removably inserted in a first recess in a first end of the socket. A second recess is defined in a second end of the socket and a passage is in communication between the first and second recesses. A push rod includes a head and a shank which extends through the first recess, the passage and is inserted in the second recess. A spring is mounted to the shank and biased between the head and an inside of the first recess. The screw bit can be quickly pushed out from the second passage by pushing the push rod toward the screw bit.

Abstract: A tool for tightening and loosening a wing nut having several wings that secures a motor vehicle wheel includes has a base element with three detachably attached contact bodies for the individual wings. The bodies serve to transfer the torque needed for tightening and loosening the wing nuts. The end of each contact body facing the wheel is provided with a projection that, for purposes of avoiding axial slippage of the tool off the wing nut in the functional position shown in FIGS. 2 and 3, engages behind a wing. The projection in question is dimensioned in such a manner that a slot located between adjacent projections is only slightly larger than the corresponding wing. Each of the contact bodies, which are configured as cleats, has a contact surface that can be placed against the wing during either tightening or loosening. In order to apply the torque, the base element has a receptacle configured as a square opening to receive a commercially available torque tool.

Abstract: A tool for installing threaded parts with lock nuts onto a machine is disclosed. The tool includes an outer tube and an inner mechanism that rotate together or independently using cogs. When the outer tube and inner mechanism rotate together, the threaded part is tightened onto a machine. When the outer tube and inner mechanism rotated independently, the lock nut is tightened onto the threaded part.

Abstract: A wrench assembly includes a plate that has a first side, a second side, a first end edge, a second end edge, a first side edge and a second side edge. The plate has an end opening therein extending into the first side and outwardly of the second side. The end opening is elongated and has a shape configured for engaging the wing head. The end opening is positioned nearer to the first end edge than the second end edge. A wing head, attached to a drain plug, may be engaged with and rotated by the plate.

Abstract: A slip-resistant magnetic sheath includes a hollow sleeve that can be fit onto the screwdriver's shank. A magnetic part positioned at least on one end of the hollow sleeve, provides auxiliary attraction to improve the connection between the shank and the screw with a fastening rim and groove set correspondingly on the sleeve of the magnetic sheath and the shank. The groove allows the fastening rim to move within a pre-set distance so that the magnetic sheath can slide within certain distance and not fall off the shank. The invention installed on an electrical screwdriver can effectively address the slipping problem caused by shocking. The forceful magnetic attraction of the magnetic sheath can prevent the screws from slipping and therefore improve working efficiency.

Abstract: A tool for oil and fuel filters includes a generally cylindrical body having an open upper and a closed lower end. The body includes an interior chamber having a plurality of tapered radial projections that extend longitudinally within the interior chamber. The projections include respective tapered gripping surfaces that engage filters having respective diameters at corresponding depths within the chamber. The chamber defines a reservoir for collecting fluid that leaks when the filter is removed.

Abstract: A screw alignment device for assisting engagement of a screw driving tool during a fastening operation with a screw of the type having a shank disposed between a head end and a front end, the screw tool being of the type having a shaft with a gripping formation at one end thereof for engagement with the screw head. The screw alignment device includes a screw guide having a body of generally annular configuration formed from a resilient material and having an internal capacity of generally frusto-conical configuration. There is also a tool guide spaced rearwardly from the screw guide and aligned with the cone axis. The device further includes a connector which connects the screw guide to the tool guide.

Abstract: The present invention relates to an extension rod assembly for a screw driving tool, which includes a base, a slide sleeve, a rear compression spring, a front compression spring, a fixing ring and a magnetic iron. The rear and front compression springs are disposed in the slide sleeve. When pushing the slide sleeve toward the tool head, the magnetic iron at end of the slide sleeve can provide a magnetic force to make the tool head pick up a screw to be screwed easily, besides, when pushing the slide sleeve toward the rod, the tool head will be caused to slide out of the slide sleeve, so as to facilitate replacement of the tool head.

Abstract: The present invention is directed to an improved tool for driving a threaded fastener, such as a hex-headed sheet metal screw. The driving socket is adapted with an counter-bore in the region of the face of driving end of the socket, sufficient to receive therein the shoulder on the fastener head. In the preferred embodiment the counter-bore is countersunk into the face of the socket, coaxially with the driving recess, and terminates in a boss which receives the shoulder of the fastener when placed in the socket for driving. An alternative embodiment of the invention includes an counter-bore in the driving end of the socket wherein the bore is a conical section, the major diameter of which is larger enough to receive the shoulder of the fastener head while being of limited depth so as to enable the majority of the fastener head to engage the driving sides of the hexagonal socket.

Abstract: A pliers having a pair of jaws each of which has an outside surface and wherein at least one of the outside surfaces has a file that is a separate member that is releasably coupled to at least one of the outside surfaces. The file, or files, can be attached to either one or both of the jaws using a variety of coupling mechanisms.

Abstract: A power tool includes an annular recess adapted to be defined in the peripheral edge to receive therein a resilient loop, a slot adapted to be defined in a side face of the peripheral edge and a hole defined in a side face defining the slot to communicate with the annular recess so as to movably receive therein a ball such that engagement between the resilient loop and a first auxiliary tool mounted outside the driving end is secured because of engagement of the resilient loop to an inner face of the auxiliary tool.

Abstract: A handle tool comprises a spanner body; at least one opening being formed at one end of the spanner body; an inner wall of the flower form opening being formed with a resisting portion; the resisting portion being formed with a plurality of ratchet teeth for buckling an elastic restoring unit; a smooth portion at an lower edge of the resisting portion; a diameter of the smooth portion being slightly larger than that of the resisting portion. Thereby, when a hexagonal screwing unit of the screw unit buckled against the resisting annual element will be received in the smooth portion of the flower form opening. Since no ratchet tooth is formed on the smooth portion and the diameter of the smooth portion is slightly larger than that of the hexagonal screwing unit of the screw unit, the spanner body will rotate idly.

Abstract: A screwdriver is disclosed having a shaft with a screw holder. The screw holder is receivable in a recess in a screw head, and has a spring element which can be elastically deformed transverse to the longitudinal axis of the shaft. A portion of the spring element may be engaged with a bore in the shaft and the bore may penetrate the front end of the shaft. The elastic segment may be disposed in a groove parallel to the longitudinal axis of the shaft segment so that, in the unstressed state of the spring element, at least a portion of the elastic segment protrudes beyond the cross-sectional surface of the shaft segment to engage a surface of the screw head recess to thereby retain the screw on the shaft.

Abstract: A tool and method for joining together two sections of plastic coated rigid metal pipe without applying pressure to the plastic coating to avoid damage thereto. The tool has a tubular body with an internally threaded open end which is loosely threaded onto one end of a section of pipe. A friction plate mounted on a threaded shaft within the body is advanced into pressure engagement with the peripheral end edge of the pipe to rotate the pipe through the frictional contact therebetween upon rotation of the body by a tool. The friction plate is loosely mounted on the shaft to compensate for irregularities in the end edge of the pipe. Rotating the tubular body in the opposite direction will disengage the friction plate from contacting the end edge of the pipe without rotating the pipe.

Abstract: A wrench includes a handle, a head formed at an end of the handle for engagement with a nut and a magnet embedded in the head. In an aspect, the head includes an intermediate portion and two jaws extending from the intermediate portion. The magnet is embedded in the intermediate portion or one of the jaws. Alternatively, a magnet is embedded in each of the jaws. In another aspect, the head is a ring for engagement with the nut. The magnet is embedded in the ring or includes a first tip embedded in the ring and an exposed second tip. Thus, the second tip of the magnet performs as a stop for the nut. In another aspect, the wrench is a quick-release wrench. The intermediate portion includes two surfaces for contact with two adjacent facets of the nut. The magnet is embedded in one of the surfaces of the intermediate portion. Another magnet may be embedded in the remaining one of the surfaces of the intermediate portion.

Abstract: Embodiments of a pressure tank valve socket are disclosed which may be used to safely remove the valve from a propane or other pressure tank without damaging the valve. The pressure tank valve socket applies force only to the sturdiest part of the valve and, thus, prevents injury to the more delicate parts of the valve.

Abstract: The present invention of a connecting shaft device for screws mainly comprises a sliding sleeve having a magnetic element disposed on the inner circumference of the front end, the sliding sleeve is then sleeved on a connecting shaft and can slide on it, the sliding distance is controlled by an elastic element, a slant groove and a groove, the structure is simple and can temporarily position a screw, hold the screw in locking position and at the same time can also control the depth of locking.

Abstract: A magnetic socket includes a main body, an urging ring, an elastic member, and a retaining ring. Thus, the urging ring is provided with a magnetic member to provide a magnetic effect, so that the workpiece is attracted by the magnetic member without detachment, thereby facilitating the user mounting and removing the workpiece.

Abstract: An adjustable hex wrench structure, in its basic embodiment, requires only two parts: a main body configured with a socket cavity having special modified hex cross-sectional shape, and a clamping screw, traversing a wall of the main body, for securing a hex fastener in place in the socket cavity. In socket wrench embodiments the main body is made cylindrical in shape and configured with a square driver opening to engage the square end of a conventional socket driver shaft. In a dual socket wrench version, two different-sized socket cavities, one in each end region of the main body, provide an overall 2:1 size range: e.g. ¾? to ??; the square driver opening is configured in a central bulkhead in the main body so that, whichever socket cavity is deployed to drive a hex fastener, the square end of the driver shaft can be inserted through the other socket cavity, at the opposite end of the main body, to engage the square driver opening.

Abstract: A multiple component wrench is adapted for use to attach and disconnect fire hose and hydrant coupling using this singular tool in lieu of several tools currently used by firefighters. The wrench has a sliding portion and a receiver portion presented as one tool, yet allowing multiple wrenches adapted for use on Storz and spanner hose couplings, rocker lug couplings, water meter shutoff valves, gas cock valves, pentagonal nuts and square nuts, and includes a multiple ratchet mechanism with multiple removable ratchets adapted to a variety of different nuts encountered on the multiple hydrants installed in various municipalities. The wrench is also extendable to provide additional leverage during use, the wrench further capable of separation forming two independent wrenches.

Abstract: A wrench including a stem having a head section at one end of the stem and a polygonal socket formed in the head section for fitting onto a screwed member. A resilient ring is disposed at the head section and pivotally connected with a controlling switch pivotally disposed at the head section. By means of operating the controlling switch, the resilient ring is driven to expand or close. In the closed position, the resilient ring obstructs at least one inner angle of the socket to prevent the screwed member from detaching out of the socket and clamp the screwed member in the socket. In the expanded position, the resilient ring frees the inner angle, permitting the screwed member to freely pass through the socket.

Abstract: An improved ratchet or gear wrench that has a built-in, non-slip, gripping clip mechanism for retaining a nut in the tool, which can either be applied to the nut or clamped out-of-the-way. This tool allows a nut to be tightened or loosened from a bolt or threaded stud more quickly and with one hand. To attain this, the present invention essentially comprises a spring-loaded curveshaped gripping clip, mounted near the boxed-end of a ratchet wrench, which wraps around the opening of the wrench. The spring action of the gripping clip allows it to be easily pulled away from the opening of the wrench and clamped in an out-of-the-way position by means of a clamp or released into a functional gripping position by pushing downward on the clamp's release button. When released, the gripping clip presses against a nut, thereby creating pressure that secures the nut in the opening of the wrench.

Abstract: An extension apparatus is provided for connecting a tool with a tool bit. The extension apparatus includes a driving element with a first end for engagement with the tool and a second end for engagement with the tool bit, a telescopic element inserted in the driving element, a magnet attached to the telescopic element and a barrel movably mounted on the driving element for receiving a fastener to be driven via the tool bit.

Abstract: A ratchet tool includes a head having a hole defined therethrough in which an engaging member is rotatably received. A chamber defined in the inner periphery of the hole and a pawl is movably received in the chamber. A flange extends from an end of the engaging member and is located outside of the hole. A groove is defined in the outer periphery of the engaging member and two magnetic members are engaged with the groove so that the object is attached with the engaging member by the magnetic members. The object can also be further rotated by rotating the flange.

Abstract: A marine or aviation tool for moving and replacing a marine or aviation cover having a pair of spaced holes as a pair of pins which are adjustable to be aligned with the holes. The pins extend from head having socket therein for receiving either extender which cooperates with ratchet wrench handle or another extender which cooperates with a screw gun drill so that one has the option of rotating the head directly as a key or operating the head remotely. The head includes a VELCRO® patch for coupling with a mating VELCRO® patch on the cover so that after the cover is removed it remains attached to the head will not fall overboard due to broken chain.

Abstract: A finger wrench that can be used to reach hard to reach locations. The wrench consists of a base with a retainer band. Said base having a nut holder fitting nuts of set sizes. Said nut holder having a nut retaining means such as a nub to hold the nut in place. The band attaches to the base and around the finger or a shaft.

Abstract: A wrench includes two jaws extending from an end of a handle and a hole is defined in one of the jaws. The hole communicates with a clamping surface of the jaw having the hole and a magnet is received in the hole. The magnet attracts the object that is clamped by the wrench while in use.

Abstract: A pole apparatus having a telescoping tubular body, an open end and a closed end the body and defining an aperture extending into the interior of the body. A first connector is mounted on the open end of the body and includes an axial bore that is in communication with the interior of the body. A second connector may be mounted on the closed end of the body and includes a base and an arm extending outwardly from said base and in axial alignment with the body. Finally, there is also disclose a tool having and head portion and a separate mounting portion adapted to engage and be removably secured within the bore of the first connector.

Abstract: A tool comprising a holder and a retainer. The holder has: a receiving area for accepting a fastener in an insertion direction; and a notch in a sidewall transverse to the insertion direction and in communication with the receiving area. The retainer resides in the notch and extends into the receiving area. The retainer deflects away from the receiving area during insertion of the fastener and provides a bias force to the fastener to retain the fastener within the holder. The retainer has: an arcuate medial section; and a pair of arms extending from the medial section. Each arm has a bent tip. The medial section and the tips conform to the shape of the holder. Preferably, the tool is a socket wrench assembly.

Abstract: A kickoff socket assembly includes a socket and an insert member that fits closely inside the socket. The insert member includes a body portion and a projection. The projection integrally extends from the body portion, and has a distal end disposed a predetermined distance from the open end of the socket, and is narrower in diameter than the body portion of the insert member. In use, a nut is placed over the projection such that the projection extends partially through the nut. The nut is engaged with a threaded shaft and the socket is rotated to drive the nut onto the shaft. Rotation of the nut is stopped by engagement of the distal end of the projection with the shaft when the nut is threaded the predetermined distance on the shaft.

Abstract: A ratchet tool includes a head and an engaging member is rotatably received in a hole of the head. The engaging member has a polygonal inner periphery for engaging a nut and a toothed outer periphery which is engaged with a pawl movably connected to the head. A magnetic member is connected to a side of the engaging member and protrudes into a space enclosed by the polygonal inner periphery of the engaging member. A ring is mounted to the engaging member and the magnetic member is connected to the ring and the engaging member. The nut is engaged with the engaging member and attracted to the magnetic member and is easily to removed by rotating the ring.

Abstract: A wrench includes two jaws extending from an end of a handle and a hole is defined in one of the jaws. The hole communicates with a clamping surface of the jaw having the hole and a magnet is received in the hole. The magnet attracts the object that is clamped by the wrench while in use.

Abstract: A tool extension with a screw attraction structure includes an extension rod, an adjusting sleeve, a retaining ring, and a magnetic member. Thus, the screw may be attracted by the magnetic member in the extension rod, so that the extension rod may be used to rotate and lock the screw automatically without having to hold the screw manually, thereby facilitating the user operating the screw, and thereby enhancing the safety of usage. In addition, the limit of movement of the screwdriver head and the locking limit of the screw may be determined by adjusting the relative position between the adjusting sleeve and the mounting head of the extension rod.

Abstract: A hand tool has an elongated shank with a handle at one end and a bit holder at the other end, the bit holder including a cylindrical body having a distal end surface and an axis, the body having an axial bore formed in the end surface of non-circular transverse cross section and terminating at an inner end surface. A neodymium permanent magnet is freely received in the bore and retained against the inner end surface by a thin circular retainer, formed of metal or plastic, which is interference-fitted in the bore. Both flat, disk-like and concave, bowl-shaped retainers are disclosed. A shock-absorbing cushion may be disposed between the magnet and the inner end surface of the bore. A bit formed of magnetizable material is mateably received in a socket portion of the bore and retained in place by the magnet. The portion of the bore receiving the magnet may have a different cross section from the socket portion. The magnet may be disposed in an encapsulation which interference fits in the bore.