I needed to round over 40+ pieces of dowel rod for my wife to put into pegboard to hold spools of thread. I cut them from 1/4 inch dowel rod. I found a piece of clear plastic tubing with an i.d. of 1/4 inch and cut about a 2 inch piece. I chucked it into a drill with a high rpm. I inserted a piece of dowel into the tubing. the tubing being clear helped me to insert just enough rod. I used the inverted sander and turned only the drill on. I probably could have used just a piece of sand paper clamped to the workbench. I didn't turn the sander on. Using a heavy leather glove on my hand enabled me to hold the dowel and round over the tip.
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