Yes, Thanks for the correction Dick,
I should have mentioned that, the face edge can get rounded from sanding if proper care is not taken. It can be minimized with proper sanding but still yet at least a tiny amount of rounding is sure to take place just the same. I bore and thread My ferrules from rod stock, and they are capped, therefore I can simply make the cap a hair thicker and cut the excess away with a refacing. That takes care of any rounding as well as cleans up any CA that may have spilled over on the face. I guess It's a waste of a ferrule over the coarse of 20 or so ferrules cut from the rod, but just the way I do them. I do black phenolic ferrules the same way, although with those you have to be more aware of the area of the shaft behind the shoulder rather then the ferrule Itself, as the maple can get stained by the black if not sealed well. The Tan or brown ones don't seem to cause many issues though, but I seal them just the same to help aid in the polishing process. If and when I use a premade ferrule I don't have that luxury, so I have to do like Dick mentioned- glue the tip on before sealing, and sand away from the ferrule toward the tip, making sure I don't pull the paper back into the ferrule. I also have to use a clean area on the paper when I go back across them for a second pass.
As we speak I just walked out of the shop after making a break shaft with a brown phenolic ferrule, and a white diamond tip. On that one I glued the tip on before even turning the ferrule down to size, so they got sealed, sanded and polished together. I mainly glued that tip on first, so that I could use My tool post to trim the tip, but judging By how easily the tip crowned with a razor, I could have possibly trimmed It flush to the ferrule using the utility method like I do on the regular playing tips. It's the first time I've used one of those tips so I didn't realize the material was that easy to trim. Still It came out so well gluing the tip on first, that I see no reason to change on those.
Regardless of when the tip is glued on the main thing with that LBM is not to drag anything of another color over It, because It does stain very easily before being sealed. I've even had some batches of LBM that were contaminated within the material Itself. Sometimes It would cut out before trimming to final size and sometimes It didn't. Not much can be done about that short of installing another ferrule.