This is just FYI: LittleMachineShop.com's weekly special this week is a set of #2 Morse taper collet chucks in sizes from 1/8" to 1/2" in 1/16" increments. That's a total of 7 collets for $75, a $10 savings. Each is threaded to accept a draw bar.
The handsome and talented John K. Jordan has eloquently explained how he uses such collets in his woodturning. You might be able to find them for less elsewhere, but I have had a set from LittleMachineShop for several years and find them to be a good value and very useful. Other than that, I have no relationship with the company.
Here's a link: https://www.littlemachineshop.com/pr...ly_special.php