Hello Colin,
In my experience 3C collets are a bit of a mystery. With my Boxford AUD 5″ lathe (1978 vintage) came a drawbar and eight 3C imperial collets. I had trouble in getting them all to hold properly, eventually discovering that four of the collets had a 26tpi thread c. 0.626 diam, while the other four had a 26tpi thread c. 0.644″ diam. No wonder some were sloppy in the drawbar and others tight! I got into serious trouble when one of the collets jammed through over-tightening, the pin in the collet chuck shearing. Took a lot of headache to discover how to release the spinning collet – but that’s another story!
I have therefore made two new drawbars, using a 0.625 x 26 tap to cut the thread in the smaller one, and screwcutting the 0.650 x 26 one (not easy, but satisfying to do!).
Boxford describe the correct thread as 0.647/650 x 26
Rotagrip supplies new ‘3C’ collets threaded 0.640″ x 26
In all cases we’re talking about the 26tpi Brass Gas Thread.
Not sure you should try to reduce the diameter of your collet threads. You could try using a 26tpi chaser (as available from, say, Tracy Tools).
Very interested to hear how you get on.
Best wishes,
Patrick Carnegy