A quick Wikipedia check tells us that a Precision Reamer is "designed to enlarge the size of a previously formed hole by a small amount but with a high degree of accuracy to leave smooth sides". That is an apt description but luckily Mark goes into much more detail as he compares the different kinds of reamers you'll probably come across in a typical machine shop and the specifics of how you should use Chucking Reamers on your CNC machine tool.

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