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The expression also survives in the sports cheer "Two bits, four bits, six bits, a dollar … all for (player's name), stand up and holler!" The New York Stock Exchange continued to list stock prices in $ 1 ⁄ 8 until June 24, 1997, at which time it started listing in $ 1 ⁄ 16. It did not fully implement decimal listing until January 29, 2001.
For Morse taper-shank drill bits, the standard continues in 1/64 inch increments up to 1¾ inch, then 1/32 inch increments up to 2¼ inch, 1/16 inch increments up to 3 inches, 1/8 inch increments up to 3¼ inches, and a single 1/4 inch increment to 3½ inches. One aspect of this method of sizing is that the size increment between drill bits ...
While the above is a common use of center drill bits, it is a technically incorrect practice and should not be considered for production use. The correct tool to start a traditionally drilled hole (a hole drilled by a high-speed steel (HSS) twist drill bit) is a spotting drill bit (or a spot drill bit, as they are referenced in the U.S.). The ...
Example (inch, fine): For 7 ⁄ 16-20 (same diameter as the previous example, but this time with 20 threads per inch, which is considered fine), 0.437 in × 0.90 = 0.393 in (i.e., if the threads are to be fine, then a slightly larger diameter drill bit should be used before tapping the hole for the screw).
Originally, all tool bits were made of high carbon tool steels with the appropriate hardening and tempering.Since the introductions of high-speed steel (HSS) (early years of the 20th century), sintered carbide (1930s), ceramic and diamond cutters, those materials have gradually replaced the earlier kinds of tool steel in almost all cutting applications.
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