Made from $12.00 worth of bronze bushings and a shaft collar. The shaft collar has a set screw that holds a 1/8” drill bit in place, so you would need to use 1/8” axles for your hinge pieces.
The largest bushing has an inside diameter of 1/2”.
The second bushing an outside diameter of 1/2” and an inside diameter of 3/8”.
The shaft collar has an outside diameter of 3/8”, takes a 1/8” drill bit, and uses an allen set screw that takes a 1/16” allen wrench.
The idea will be to epoxy the smaller bushing a set distance into the larger bushing. The drill bit itself will be inserted directly into the drill chuck and used to hold the jig in place and the shaft collar will be pushed up all the way to the chuck thereby preventing the drill bit from moving backwards away from the dowel end as it’s being drilled.
Update 09/13/2015 – This jig is now tested and works great!
-- There are good ships and there are wood ships, the ships that sail the sea, but the best ships are friendships and may they always be. http://geraldlhunsucker.com/