If it can be had real cheap, it may be worth having; diameter capacity will likely be greater than regular collets. Generally the Jacobs collet nose can be had fairly cheap, but the collets, not by a long way. I use both types on my 9" monarch, mostly the hard collets if they have enough capacity. If your lathe takes 5C that is likely the best bet. On my Monarch, the hard collets go up to 5/8", the small Jacobs model 500 they go up to 1", the large Jacobs set goes up to 1- 3/8", I think. I got the model 500 for only $28 at an estate sale, and I think the collets were in a seperate lot, also cheap.