It always amazes me why people use clapped out old drill chucks, especially the throw away ones that come on hand drills. They spend a fortune on good quality drill bits, then find they cannot drill a straight or correct sized hole to save their life.
The cost of a new reasonably good one is peanuts compared to the time and heartache caused by trying to restore and use worn out piles of junk.
I showed a Jacobs 1/4" drill chuck for about 15 to 20 bucks, and I expect you could find them for about that price in the US as well.
The way I look at things, a couple of six packs that are pi**ed up a wall in an evening, or a bit of kit for the shop, that if looked after, will last for many years. I know which one I would class as value for money.
There are a few items that can reasonably be restored and used in the workshop, drill chucks shouldn't even be considered as one, unless it is something like an Albrecht, which have new jaws available for them, but even that isn't a cheap exercise.
Bogs