Patent ID: 9156147
Filing Date: 2015-10-13
Classification: B23B,B25B,Y10T

Abstract:
1. A bit holder assembly for a rotary tool, comprising: a body having a shank at its rearward end and a coaxial socket formed at a second end to allow a tool bit to be inserted therein, said body having an opening formed in the body in communication with said socket; a retraction collar slidably disposed on said body and having a forward end extending axially forward of said second end of said body; a coil spring biasing the retraction collar forwardly; a retainer held in a bottom of said opening formed in the body by one of said retraction collar and said coil spring, wherein said tool bit is removed by sliding the retraction collar rearwardly, to compress the coil spring and allow the retainer to retract back up the opening; and a ring magnet is disposed at and supported directly on said forward end of the retraction collar to magnetize a fastener to retain the fastener to the tool bit.