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Nope, this is not a pin vice. I know what you are describing. It uses a chuck to hold the drill bit. CarrieM posted a picture of the pin vice for me. It uses a collets to hold the bit or other...

More than just a flat piece of plastic. The more you can get away from flat the better it will look. Look at the surface features of your vintage razor scales.

Also be aware that a sand blasted...

To drill on the cheap you can get a set of pin vises from Harbor Freight to hold the drill bit and drill them by hand. Be sure to mark the approximate center with a spring punch or center punch. I...