Round shank tools are cylindrical and should be held in a good quality tool holder in order to prevent the counterbore from slipping in high torque applications
High speed steel is a common general purpose steel for cutting tools, is compatible with a variety of materials, and tends to be lower in price
Tool will have a gold colored titanium nitride TiN coating. TiN is self lubricating at high speeds, allowing for faster cutting speeds than uncoated tools.