ER32 or ER40???

I agree with Mikey, although ER chucks have a wide clamping range, the accuracy diminishes significantly as one clamps them through the range and also the holding power. I do not advise a metric set because they claim that there is a 1 mm clamping range, this is a selling point from the vendors but you will find that using a 12 or 13 mm ER collet for a 1/2" end mill is going to have significant run out. Much better off with an imperial set for the mill. On the lathe maybe a bit different if you are just doing a single op and then cutting off the piece, but the effective clamping range is much less then stated but still better than a 5C. The other significant factor is that an ER collet requires having the end mill or stock held the full length of the collet, otherwise the collet will distort and collapse on the back end as it is clamped.

You will also find that many of the higher end ER collets are for a specific size end mill, with a very small rated clamping range. So a 12mm collet is for a 12mm end mill a 1/2" collet is for 1/2" end mill. Try it any other way the you spring the collet and the run out becomes significant. When I need accuracy in my mill I use a high quality ER collet at the rated diameter.

Me recommendation would be to use an ER32 on the mill, it is more compact, and the diameter is significantly less. Typically the largest end mill one uses is 3/4". One exception would be if you have any 1" tooling that will not fit an R8. An ER32 collet is going to require less nut torque, but buying a good quality ER nut (either coated or bearing style) makes tightening significantly easier and also improves accuracy. End mills typically run in fixed shank diameters, I mostly used 1/4", 3/8", 1/2", 5/8" and 3/4" probably 99% of the time when using an ER32 chuck. You do not need a full range set for the mill, buy a few higher quality types or maybe a 1/8" increment set. Techniks are quite good at the price point, but look at some better quality ones for your mill. Decent collets are about $15 each. Get a power or bearing nut. I have both Iscar and and the higher end Shar's nickle plated R8 ER collets holder for my mill and they are all under 0.0002" TIR, almost not measurable on my 0.0001" indicator, but has been discontinued. On my mill my edge finder requires a high level of accuracy when centering, I can only do this with my ER32 R8 setup with a 12mm collet. Most R8 collets have too much runout/skew.

Lathe is a different kettle of fish. Unless you have a small lathe, most people use an ER40 collet system, Shar's sells a set-true style ER chuck (32 or 40) that is quite popular. On a larger lathe (12" or greater) I would go with an ER40. As mentioned ER collets work for stock that passes through the full length of the collet, and for high accuracy work, I would try to use them in a reduced clamping range. They do work well for odd size diameter work, so rough stock that is a bit oversized , threaded stock or knurled. On the lathe I have a 1/32 ER40 imperial collet set which has a bit smaller clamping range between collets. I use a less expensive set for my lathe, but they are still decent quality. I also have a few Shar's ER40 collets that are decent and were in the $7 a piece range.
 
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I just went through the same choice for my lathe and decided on ER 40 rather than 32. My lathe has a 3/4" spindle bore, so my initial
thought was ER 32, but I realized that I do jobs with short lengths of stock that don't have to pass
through the spindle anyway. I have a job like that coming up that will use 1" diameter bar, so at that point the choice was obvious.
The ER 40 won't go as small at the bottom end of the range, but to me that isn't as important.
 
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Thanks for all the great input. Not sure how often I would need to use collets in the lathe so will probably go with ER32. Would appreciate any additional comments to help me solidify my decision.

Any time you need to grab a precision ground rod or an already turned rod that you do not wish to mar, or a knurled or threaded surface that you don't want to distort, an ER collet is the answer. It will also grab nominal stock for general turning, although a 3 jaw is faster and just as accurate for a first operation/turning.

I agree with the other guys - for the lathe, get the ER40. ER50 will go bigger but the collets and nuts are big bucks and not worth the cost. For the mill, go with ER32 (to start) and buy a good nut and high quality collets, at least in the sizes your tooling requires.
 
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