A bullet sizing and lubrication device for use with reloading presses for improved operation and durability having a sizing die, lube valve, and lube actuator member. The sizing die has a centering portion for centering bullets to be sized and lubricated and at least one lube opening. The lube valve and lube actuator member has a first position where fluid is blocked from entering the at least one lube opening and a second position where fluid is communicated through the at least one lube opening. The principle use is for sizing and lubricating cast bullets, however, other components will benefit from this invention. For example, any number of applications where devices need to be sized and lubricated, such as, shafts and pins will benefit from this application.