My Skil came with a 1/4" collet and the shaft is bored for the 1/2" bit. So when you want to go from 1/2" to 1/4" you just remove the the nut, pop in the 1/4"collet and you have a 1/4" hole so the nut goes right back on and in goes the 1/4" bit.
Herb
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