Looking for a good dependable set of drill bits for my 1/2 inch drill. To be used on metal and wood. What kind of material, quality and brand should I look for? Thanks.
 

Cobalt bits will do very well in steel and won't break the bank. As long as you put good pressure on them they will cut nicely and not dull quickly.
 
good quality High Speed Steel-HSS will do most anything you need to do on mild steel ect. most of the cheap bits with titanium coatings are just that cheap junk, also DeWalt bits are not much either, also don't get pilot points, they are for sheet metal, if you break the tip off in a piece of steel you will wish you hadn't as they are too hard for most bits to drill out
 
I buy a good quality bit with self starting tip. I don't use cobalt bits in a hand drill because they are brittle and snap off easy. They work great in a drill press tho. I also don't like the pilot point bits because they will plug on aluminum and thin metal between the tip and outer flute. They are also hard to sharpen once dull.
 
For general use as you would be using I have only bought High Speed Steel bits for my mold building shop as a rule. I buy cobalt or carbide for special jobs only where needed. I still use HSS bits on machine able pre hard steel 44 or under as well.
 
They are the best I have found too. They are made by Champion and a whole lot cheaper than that price where I buy them here in central Ohio.

http://www.colfast.com/detail.aspx?item=T-T17D&id=6055
 

A good set of USA made HSS drill bits is as close as your going to get to a universal good bit in my opinion. Of primary importance after buying the right bit is sharpening. Heat in the bit itself is every drill bit's prime enemy. Heat is generated when the bit isn't cutting but rubbing and because the chip, not drilling fluids is the primary carrier of heat away from the point. Repeat, you need to keep your bits sharp, not after they quit cutting but before they reach that point to protect the temper in them. Split points are OK because you can grind them to a normal point when they dull. Wandering problems are fixed with a center punch and sharp bits not fancy points that cant be replicated on your bench grinder. Bits under 1/8 you buy 10 at a time and pitch when dull.

Cobalt bits are OK for there intended use but I don't consider them good general use bits because they are not as tough as HSS. I do keep a set around for drilling hardened steel and stainless.
 
Myself i get my drill bits from Ohio Drill in a little speck on the map town called Homeworthe Ohio . and when i need a couple new drill bits i take my drill index out and just say REFILL , not only do they get me new bits but the take and resharpen the rest.
 

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