What's That Rock?Magnetite
Also called: lodestone
A black iron oxide that is strongly attracted to a magnet. It is the most magnetic natural mineral.
How to identify Magnetite
- A magnet picks it up and sticks to it
- Black streak
- Often octahedral crystals or dark grains in sand
Often confused with
- Hematitered-brown streak
- Chromite
- Meteorites
Real or fake?
- The magnet test is the quickest clue; confirm with the black streak
Is Magnetite valuable?
Inexpensive.
Typical retail prices
Rough$10–30per pound
Collector specimen$8–80each
Typical retail ranges in US dollars, compiled from public dealer and marketplace listings in October 2026. Real prices vary widely with quality, size and origin. This is general information, not an appraisal.
What changes the price
- Crystals: sharp, glossy octahedrons are the collector form
- Magnetic lodestone: strongly magnetic pieces are curios and cost more
- Origin: Utah and Russian specimens are known; ordinary ore is cheap
Uses
- Iron ore
- Industrial uses
Care
Keep dry to avoid rust.
Identifying a stone from a description or a photo is an estimate. Many stones look alike. Ask an expert or a gem lab before you buy, sell or rely on an identification.
Updated October 2026