The present invention provides a pin & clamp style tool holder mountable on a lathe or other machine tool for supporting a cutting plate relative to a work piece for cutting or shaping the work piece. As these types of cutters (carbide inserts are lower cost and provide twice the cutting point/edges) would a great cost cutter for the frequent hobbyists, or for a professional shop worker in car brake repair businesses, or maintenance department for heavy equipment companies. Competing makers of the charge much more for their small pin & clamp style tool tool holders. Thats because of all the extra things that go into them. Mostly adding to their expense is an overhead clamp, screwed into a tapped hole in the body of the tool holder, that holds the insert down

The tool holder including a body having a tapered tool base at one end thereof, the tool base defining a tool seat for supporting a cutting plate. A plug screw having a head defining threads on an outer surface thereof for engaging a threaded hole in the tool base is also provided. The plug screw further defining a shank extending eccentrically from the head, the shank being receivable through a mounting hole defined by the cutting plate for locating the cutting plate relative to the tool seat upon rotation of the plug screw relative to the tool base. A commercially available lock nut is provided for receiving a threaded end of the shank for securing the cutting plate to the tool base and tool holder.

Manufacturers can quickly produce the tool holders at lower cost with fewer special parts. In fact the only thing different than a regular positive type insert holder or "Screw Down" is the negative rake base and a unique plug screw that is threaded on both ends.

This Tool Holder can be larger and used industrially.