High speed steel drill bits provide more flexibility and absorb more shock and vibration than cobalt drill bits. Also known as Silver and Deming drill bits, these reduced shank drill bits have a 1/2 "shank and drill diameter greater than 1/2". They can create larger holes than standard drill bits with 1/2 "shank.

Reduced shank drill bits have a shank with a smaller diameter than the cutting heads. While still compatible with standard size drill chucks, they can drill large holes. Reduced shank drill bits are used in maintenance and repair applications.