A collet chuck configured to connect to a standard milling machine spindle, wherein the collet chuck includes a centering sleeve having a tapered outer peripheral surface for contact with an inside peripheral tapered surface of the spindle and has an outer end disposed adjacent the mounting end of the spindle, a chuck body having a base with an outer end including mounting end to mount to the end of the spindle, and a biasing element operably disposed between the outer end of the centering sleeve and a portion of a back side of the base in a manner such that the biasing element exerts a force on the back side prior to a direct connection of the base to the mounting end thereby providing for variances in connection of the base to the mounting end of the spindle and assuring concentricity is maintained when so connected.