Lee Valley Screwdriver Magnetizer/Demagnetizer

With this simple device, you can easily magnetize a screwdriver (or other small ferrous-metal tool, such as a hex key) and also demagnetize it whenever needed.

You can leave the magnetizer on the shank (close to the tip for a strong hold; close to the handle for a light one), where it doubles as a screw holder. Alternatively, you can pass the screwdriver back and forth once through middle to impart a temporary charge; rubbing it against the outside demagnetizes it.

Containing a small but powerful rare-earth magnet, the plastic shell adjusts to accommodate tool shanks up to 1/4″ (6.35mm) in diameter.