The value derived from rare earth magnets is in their magnetic abilities, not just the materials from which they have been formed. This particular type of magnet has been proven to be one of the strongest kinds of permanent magnets currently available. There are four different properties by which magnets are rated; this value is dependent on the magnetic strength as well as its length of duration. The neodymium and Samarium-cobalt are two types of man-made magnets that are often used today because they offer these specific properties.
The four properties that are often used in comparing permanent magnets include their remanence (the magnetic field?s strength), coercivity (its capability to remain magnetized), energy product (the density of its magnetic energy) and lastly Curie temperature (the temperature where its magnetism will be lost).
The elements which are referred to as rare earth metals are simply metals with the ability of being magnetized, like the rare earth magnets. It is a matter of the crystalline structure and its electrons as well as other components.
These minerals are abundant but combining them with other metals such as nickel, iron and cobalt can be expensive and complicated however it is necessary in order to produce permanent magnets like these.
These kinds of magnets do have some problems built-in. For one thing, they are very brittle and can corrode easily. Cracking, fracturing and chipping are some of the problems that are common and so careful handling is a necessity.
Rare earth magnets are a wonderful way of providing a powerful magnet field that is long lasting and can be utilized in a variety of different industries.