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T1908 Interchangable Head Forstner Bits

This set includes three shanks, and a bunch of different interchangeable Forstner bit heads that screw into the shanks. Seems like a lot of trouble and expense to avoid having a fixed shank on every head.

Location: Box 40

Have you used this tool? Think my description is all wrong? Have a better example? Comment now with any thoughts you have about this tool!