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A metal slotted sleeve that holds a router bit in place in the router shaft.
Secured by a nut, the collet clamps around the shank of the bit.
Many routers come with both 1/4" and 1/2" collets to accommodate available bits,
but some inexpensive models are equipped with only a 1/4" collet. Some include a 1/2" collet and a reducer sleeve. Collet styles vary: they typically are not interchangeable between router brands.