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Make Any Driver Bit Magnetic! Sometimes you need a magnetized driver bit, and sometimes you don’t. Now you can change from one to the other any time you want. Just slip this 3/4" diameter ring onto any steel 1/4" hex driver bit or any screwdriver shaft that will fit through the 5/16" diameter hole to provide instant magnetism. The brass bodied ring contains three powerful neodydium rare earth magnets for incredible strength. Note: magnetic holding power is strongest close to the ring, so the magnetic effect on long driver bits can be rather weak. Made in Taiwan.