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I’m sorry but I don’t think it’s a good idea to insert anything into the collet. These things are dangerous enough without adding’ foreign objects’ into the space. Do as I do and use a black marker to mark your router bit at the manufacturer mark shown on the bit. This should be enough without additional spacers etc.
Do as I do and stay away from router bits larger than 3-1/2". Use a shaper.
 

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One suggestion I would tell you is to install a 1/2’’ or 1/4’’ o-ring in the bottom of your collets. You leave the o-ring in the collet until you change sizes of you bit shanks. You will never have to mark your bits with a line or pull your bit up again. It becomes a solution to a problem you will not have to worry about again.
I suggested that. See response above.
 
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