+1 to Thor's comment 'The sizes you need depends on what kind of work you do'. And not only the sizes; the metals being cut and the capability of the mill make a difference too.
I'm not an ideal role model for many reasons, but an outline of what I do and why with a ER32 equipped WM18 may help.
- Type of work: smallish and metric. I'm not fixing motor-bikes or building a ⅓rd scale Traction Engine. I'm mostly inside a 120x120x120mm envelope cutting mild-steel, aluminium, brass and cast-iron. Apart from gears and precision drilling, most of my milling could be done with a file. Eventually.
- A single 4-flute 10mm diameter carbide cutter is favourite for roughly hogging metal out quickly, dealing with hard metal, and punching through the outer skin of cast-iron. All my other milling cutters, apart from boring bars, are HSS.
- For cutting slots, a selection of 2-flute cutters. These range from 2mm to 20mm in diameter (but see comment on sets below.)
- For general purpose metal removal, 2mm to 20mm 4-flute cutters bought as a set with my 2-flute cutters.
- For flattening larger areas, a fly-cutter. (If I did a lot more area flattening I'd look at a multi-head carbide holder because they're faster.)
- For boring holes, carbide inserts boring bars to fit my boring heads. Carbide inserts save bother with sharpening.
Uncertain of what sized cutters I would need, I bought a boxed set. I haven't regretted it, but some sizes are used a lot more than others! Chaps who know what they're doing rarely buy sets, but I think sets are very helpful when learning and before tuning into to a particular interest. 12 & 10mm 4-flute cutters are most popular in my workshop but 8, 6, 4 and 2mm also get good airing. 20mm 4-flute is used often, but the 18, 16, & 14mm sizes are almost pristine. Up to 6mm diameter in the 2-flute range see plenty of action but I don't recall using the larger sizes at all.
I don't recommend starting off with second-hand cutters unless certain they're in good condition. At the outset, things will go wrong, and it's difficult to decide what the fault is when a learner driver is operating a machine that might be wonky, and might be using blunt tools on a difficult metal. (Avoid learning with unknown scrap – many metals absolutely do not machine well!) Second reason, milling cutters are hard to sharpen – you can't simply touch them up like a woodwork chisel. Later on, maybe: second-hand tools are a good option when you know what to look for.
Getting started with machine tools I found it invaluable to build a few simple model engines. Not because I'm particularly interested in model engines, but because they put me through my paces. The tools and techniques needed to turn lumps of brass, steel and aluminium into engine parts that fit well enough together together to run are useful later, whether interest takes you towards clocks or railway wagon axles. Making parts involves choosing tools: what's best for this particular problem? Your brain's the most important tool in the workshop, and it needs educating. The answers also tend to build up the tools you need: certain sizes 2, 3, and 4 flute cutters, twist drills (in tap sizes as well as ordinary), maybe countersink cutters, involute gear cutters, welders, brazing and an air-brushing outfit etc.
Metric vs imperial is worth a little thought too. Metric is almost certainly the best bet unless you live in the US, or are going to build scale models from imperial plans or work on older British machinery. In the UK metric is gradually pushing out imperial, making it ever more tricky and expensive to source certain items. (The internet is your friend.) What's done in your workshop is the decider.
Dave