There is another way, there are a couple of companies that sell a kit like this. It has a short tube (about 1 1/4") that has threads inside one end. You need a long drill bit, glue in the tube and turn on a special mandrel that you put in a drill chuck or collett chuck is what I use. After you have it turned then you just part off your finished pen and the gold pen tip screws into the end. It is pretty easy and not very expensive. This is what I use to turn wedding pens for the guest book and regerstry.
Wayne