An in-die hydropiercing device comprises a punch with an annular shearing blade which is operated by a hydraulic cylinder and is received in a ring-shaped die button mounted in one of the dies that form a die cavity for the hydroforming of a part, a center support member that is received in the center of the punch and supports the wall of the part inward of the shearing blade during the hydroforming of the part and also during the piercing of the part with the shearing blade, a slug collector, and a slug retainer that is mounted on the center support member and provides for retention of a slug produced from the piercing operation against the center support member and later releases the slug onto the slug collector for disposal following the opening of the dies and insertion of the slug collector between the open dies and then retraction of the slug collector with the slug for slug disposal.