Drill American ANC Series Annular Cutters are made of M2 High Speed Steel with a nACo Nano-Composite Blue coating that increases tool life up to 30% compared to traditional High Speed Steel Annular Cutters. These annular cutters are difficult to cut materials such as steel, cast iron, heated and stainless steel. Annular Cutters cuts only necessary material for fast, efficient, quality hole making. Pilot pin included. Drill America ANC Series Annular Cutters (also called mag drills, magnetic drills, mag drill bits and magnetic drill bits) have a 3/4" Weldon Shank which fits most magnetic drill presses and are for use with magnetic drill presses only. Do not use these cutters with a standard hand drill or drill press.