I don't have a drill bit set, since I wouldn't use most of the bits in typical sets. I buy individual bits depending on what I need for a project. I now have a motley collection of bits in various sizes, material, intended use and wear (often they come in sets of two so I'll have one "used" and one "new"). I can't easily identify a drill bit at a glance. Their original packaging is to bulky and fragile to use as storage.
Is there an easy, inexpensive way to keep them organized so that I can tell at a glance which bits I have and which is which? It should be a flexible system, that doesn't need to be re-set every time I go and buy a new bit - so it can't be a box with non-customizable slots for different bits, for example.
The best I can think of is to use a label printer to print flag-style labels and affix them to the base of each bit. I guess it's better than nothing, but I'm hoping for something more elegant.
My dad solved this problem by drilling many holes into one edge of a 1x2 that did not go all the way through. Rows of these were nailed up across the wall studs near the drill press. It was easy to find drill bits even if there was no particular order. Multiples of one size could be placed into one larger hole.
Keeping a digital caliper on a hook nearby allowed quick diameter measure if needed. Also helpful was the printed drill size and thread chart taped up on the wall.