Hey Greg,
- If it is a collet for 6 mm, you cannot use it for a 6.35 mm (=1/4") bit shank. You can ruin your collet this way. See here for explanation.
- Many beginners mount the ER collet nut by first inserting the bit and the collet, and then they put the collet nut over it and try to screw it down, like they are used to from their router. That is definetely wrong! You got to know this about how ER collets and their collet nuts work.