MyFishFinder.com Just like iceshanty but warmer
https://www.lowes.com/pd/Jacobs-Chuck-Universal-Chuck-Key-Holder/1209577?cm_mmc=shp-_-c-_-prd-_-tol-_-google-_-lia-_-215-_-pta-drillinganddriving-_-1209577-_-0&placeholder=null&gclid=Cj0KCQjwufn8BRCwARIsAKzP6943G8mSXo5GPMdlwrpNg9bWPG8W8wm73w8C1F1sMH0nUc7zrc2WMzoaAhWWEALw_wcB&gclsrc=aw.ds
Drill a hole amd put a rubber grommet in it just like they used to on the old Jiffy drills.
https://www.homedepot.com/p/Everbilt-5-16-in-x-2-3-4-in-Zinc-Plated-Round-Wire-Lock-Pin-807488/204225915My $3 quick release setup. Replace the bolt through your auger with one of these and never worry about losing an Allen key again. Its never happened to me, but I usually pinch the spring part a little smaller with pliers as extra insurance so it doesn't come out on its own. As a bonus, it's the same size as the ones I use on my sleigh hitch and can be used if I lose that one.If you're set on keeping the Allen key, drill a small hole in the end and use picture hanging/mechanics wire to hold it in place. Make it just long enough to reach from it's stored position to the auger so it never has to be removed.
The pin is a good Idea. However you have threads in the shaft. The pin will round them out and I had one snap. Bye Bye K Drill. And yes the foamy float does not work always. I timed it today took me 1 minute and 20 seconds to undue the 1 bolt from the 6 inch and switch to the 8 inch. I think I will do the grommet idea but never seen one on a Jiffy before. All good ideas here not attacking but those pins can really screw up the threads and they usually wobble.
I've been thinking about doing this with my auger. I hate the screw. Has the pin ever been bent from the torque? Have your cross holes ever become enlarged? I would imagine there is a little play between the pin and the holes on both the drive shaft and the collar on the auger bit.