I wanted to convert one of my metal handles to wooden handle with a collet to change out gouges. No good reason other than I like wooden handles. Robust sells one but it's way to expensive. I bought a collet chuck and collet on Amazon but the collet chuck nut was not machined correctly and sent it back. Anyone built their own with a hand tighten collet chuck setup? I know I could get the sleeve type and make a knob for the set screw as well but wanted to try the collet chuck style if can do for a reasonable price. I don't want lots of handles, just two. One for my 5/8 gouges and one for my 1/2 gouges. Rest of my stuff can live with permanent handles.
The beauty of the collet handle is that you don't need to grab another tool which takes additional time when removing the tool from the handle. At the grinder, finding and using a hex key is time-consuming. Changing a collet to a different size would take even more time. (Some gouges are not always standard size and may be difficult finding the correct collet size.)
To avoid this, just use a 3/4" collet only. Fit all your gouges with 3/4" sleeve adapters. You'll only need one handle for both your 5/8" and 1/2" gouge! If I were to use a collet handle, this is the direction I would be leaning toward. It's the most efficient and economical path.
I use CAM handles which have all the advantages that I mentioned above. Jimmy Clewes sells the mechanism that accepts a 5/8" diameter shaft. I would look into tha as well. Your 5/8" gouge and your 1/2 gouge with a sleeve will work with that.
In this string last January, I mentioned above that I was making a CAM handle. After a few tries, I did successfully make one.
Believe it or not, it all can be done on your wood lathe without any special tools. You would need a Jacobs chuck, 3/4 HSS drill bit, 1/32" shims, chuck jaws that hold 1"-1.25" dowels that need to be bored. I have made small CAM handles out of PVC and oak. You cant get much cheaper than that. Recently, I upgraded to Aluminum tube and Aluminum rounds(About $20) all of which can be drilled on my wood lathe. I make my own sleeves from 1018 soft steel rounds which also can be drilled to various sizes depending on the gouge or tool diameter. The cost of the sleeves which I usually make 3" long is under a dollar.
If you want more info on the construction of the CAM handles let me know. I am putting together a presentation for my local club meeting in June.