I was tired of having a pile of screw and nail boxes, and had more than a few collections of nuts, washers, and other bits of hardware and odds 'n ends around my work area that needed a home, so I collected a few jars and made this under-shelf storage system.
My father told me about this system a while ago- his father had had it in his shop. I installed it for myself, and it has made things SO much nicer and easier.
Step 1: Materials: Jars (duh)
You can use any old jar, so long as you have room for it. Smaller jars (like baby food jars, as my grandfather used) are probably best. For one you can fit more of them under your shelf, but really most hardware doesn't actually need the space of larger jars (like the two tomato sauce jars I've got in the picture).
Step 2: Drill Holes in the Lids
Drill at least three holes in each lid, spaced evenly and far from the center of the lid (without causing potential interference when the the jar is screwed in). I made my holes just small enough that the screw actually threaded in, so that there was more material for the head of the screw to tighten to.
Step 3: Place and Screw the Lids In
Choose a drill bit for a pilot hole. Stick a piece of tape around it to set the hole depth to be less than the width of your shelf.
Put tape on the back of your drilled lids and stick them where you want the jars to hang. Make sure that there is clearance between the jars before putting the screws in the lids.
Use the holes you drilled in the lids to find your placement for the pilot holes, drill 'em up, and then drive the screws in.
Step 4: Done! Use 'em!
I took the labels off of the screw and nail boxes and used some rubber cement to fix them to the jars.
I'll be putting more up as I collect more jars (eat more jam, peanut butter, olives, and pickles... yum!)