For cold work, slip a hose over the threaded rod. A garden hose or auto heater hose will work for larger diameters. Homemade spade bits. Forge a high carbon rod on one end to a flat. Grind the point angle to 130 degrees.
Heat treat the bit before use.
Wrap masking tape around a drill bit, leaving an extra inch for easy removal. Place a magnet into a plastic bag and drag across steel debris. Hold over a container, reach into the bag and slowly separate the magnet from the bag as debris falls into the container. Removes particles from sandpaper to extend its use. A smudge-less erasing of pencil lines.