Quick change bit holder with ring magnet

A tool bit, comprising:

• a shaft having a shank at a first end and a working region disposed at a second end, said shaft having a shaft section between said shank and said working region having a reduced diameter region disposed between two shoulders, the reduced diameter region providing a torsion zone that allows the shaft section to twist to absorb forces while the tool bit is being used to drive a fastener;
• and
• a ring magnet assembly movably disposed at said second end of said shaft to magnetize a fastener to retain the fastener to the working region of the tool bit, wherein said ring magnet assembly comprises a rubber cup having a flange portion that engages said reduced diameter region of said shaft between said two shoulders.

A tool bit, comprising:

• a shaft having a shank at a first end and a working region disposed at a second end, said shaft having a shaft section between said shank and said working region having a reduced diameter region disposed between two shoulders, the reduced diameter region providing a torsion zone that allows the shaft section to twist to absorb forces while the tool bit is being used to drive a fastener;
• and
• a ring magnet assembly movably disposed at said second end of said shaft to magnetize a fastener to retain the fastener to the working region of the tool bit, wherein said ring magnet assembly comprises a sliding sleeve that includes at least one opening therein that receives a retainer ring that is received in said opening in said sliding sleeve and between the two shoulders on opposite sides of said reduced diameter region to retain said sliding sleeve on said shaft.

A tool bit, comprising:

• a shaft having a shank at a first end and a working region disposed at a second end, said shaft having a shaft section between said shank and said working region having a reduced diameter region disposed between two shoulders, the reduced diameter region providing a torsion zone that allows the shaft section to twist to absorb forces while the tool bit is being used to drive a fastener;
• and
• a ring magnet assembly movably disposed at said second end of said shaft to magnetize a fastener to retain the fastener to the working region of the tool bit, wherein said ring magnet assembly comprises a sliding sleeve that is retained on said shaft by one or more balls that is received in a hole in said sliding sleeve and between the two shoulders on opposite sides of said reduced diameter region.

A tool bit, comprising:

• a shaft having a polygonal shank at a first end and a working head region disposed at a second end and extending to a shoulder that separates the working head region from the shank;
• and
• a ring magnet movably disposed at said second end of said shaft to magnetize a fastener to retain the fastener to the working head region of the tool bit, wherein said working head region includes a recessed groove therein for receiving a retainer ring therein, said ring magnet being supported by a sleeve that is retained on said shaft by said retainer ring.