A floating tool-bit depth controlling nosepiece for a spring loaded tool holder is used to countersink holes of equal size when the height of the work piece material changes. The floating tool-bit depth controlling nosepiece, driven by a cnc machine, is rigidly coupled to the floating portion of the tool holding element. The floating depth controlling nosepiece has a bearing on the end to allow an area of the nosepiece to stop rotating when the nosepiece is pressed against the work-piece surface. Since the area of the nosepiece that comes into contact with the work-piece is no longer spinning in relationship with the work-piece, the possibility of scratching the work-piece surface is reduced. Additionally, the nosepiece has cutouts therein to expel machined chips during countersinking of holes.