Jeweling is pretty simple; it's just a series of overlapping circular polish marks. These swirls catch light and do a great job of hiding flaws, while looking pretty good to boot.
In my case, I didn't use anything fancy... just a flexible abrasive rubber tip originally designed for use in a Dremel type rotary tool. It was round, with a nice flat tip. I put a drill chuck in my mill and chucked the rubber bit in it.
I picked a starting point and brought the abrasive down against the steel (kind of like operating a drill press), creating a round polish mark. Then I raised the abrasive and used the mill's cross slide to move the bolt a small amount (somewhat less than the diameter of the polishing tip) before repeating the process. I kept track of how many cranks of the cross slide handle I made, to make it easy to uniformly space the polish marks.
As you can imagine, jeweling takes a fair amount of time and patience.
You don't need a mill to do this job. I'm sure it could even be done (very carefully) with a hand-held drill or Dremel, but a drill press would be a great boon and isn't all that hard to come by.
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