3/32" dia. shanks are the jeweler's preferred standard for burs and small rotary tools. They fit the adjustable chucks found on most flexshaft handpieces as well as 3/32" handpiece collets.
Knife Edge Burs tapers to a sharp knife-like edge along their circumference with cutting flutes on both top and bottom. They're useful for grinding in tight areas, removing material flat flat surfaces, and for scoring.
Vanadium Steel burs are economically priced. They cut precisely when new, but don't retain their sharpness as long as other steel alloys.