Dimensional problems for punched holes on a sheet metal stamping part include being undersized and oversized. Some important relationships among tools and products, such as the effect of conical punch tip angle, are not fully understood. To study this effect, sheets of AA6016 aluminum and BH210 steel were punched by punches with different conical tip angles. The test method and test results are presented. The piercing force and withdrawing force when using conical punches were also studied. The results indicate that the oversize issue for a punched hole in a stamped panel is largely due to the combination of the conical tip effect and the stretching-release effect.