If you use only a bare magnet to hold a chuck, key or wrench in place, sometimes the magnet comes away with the tool. Equally inconvenient, a small magnet can leave you scrabbling to get your fingers far enough under a wrench to pry it off. This magnetic standoff solves both problems.
The zinc-plated 5/8" tall steel body has a 1/2" rare-earth magnet in one end and a 3/8" in the other. With the larger magnet against the machine body, you never have to worry about plucking it off with the tool it is holding. The 5/8" height also gives you just the clearance you need to grip the tool easily. Never again search for a chuck key or adjustment wrench. Holds tools up to 1 lb in weight. Made in Canada.