Tool bits with floating magnet sleeves

A tool bit for driving a fastener comprising:

• a shaft with a front end and a rear end;
• a working region disposed at the front end and configured to drive a fastener;
• a shank portion disposed at the rear end and configured to couple the shaft to a power tool, the shank having a polygonal cross section with a shank diameter and defining an annular groove;
• a first reduced diameter zone disposed in the shaft proximate the working region and having a first length and a first diameter less than the shank diameter;
• a second reduced diameter zone distinct from the first reduced diameter zone, disposed in the shaft proximate the shank portion, and having a second length and a second diameter less than the shank diameter;
• and
• an intermediate zone disposed in the shaft between and the first reduced diameter zone and the second reduced diameter zone, the intermediate zone having an intermediate diameter that is greater than the first diameter and greater than the second diameter,
• wherein the first diameter is less than the second diameter and the first length is greater than the second length.

A tool bit assembly comprising:

• a tool bit including a shaft with a front end and a rear end, a working region disposed at the front end and configured to drive a fastener, a shank portion disposed at the rear end and configured to couple the shaft to a power tool, the shank portion having a polygonal cross section with a shank diameter and defining an annular groove, a first reduced diameter zone disposed in the shaft between the working region and the shank portion, a second reduced diameter zone disposed in the shaft between the working region and the shank portion, and an intermediate zone disposed in the shaft between the first reduced diameter zone and the second reduced diameter zone, with the first reduced diameter zone disposed closer to the working region and the second reduced diameter zone disposed closer to the shank portion, wherein the intermediate diameter has a diameter larger than the first reduced diameter zone and the second reduced diameter zone;
• and
• a floating sleeve having a radially inwardly projecting retention member at a rear end of the sleeve and a magnet at the front end of the sleeve,
• wherein the shaft is configured to removably receive and retain the floating magnet sleeve with the inwardly projecting retention member received in the first reduced diameter zone so that the sleeve can move axially between a forward position where the inwardly projecting member is at a front end of the first reduced diameter zone and a rear position where the inwardly projecting member is at a rear end of the first reduced diameter zone.