Webster's English Dictionary

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magnet

mag.net \'mag-n*t\ n [ME magnete, fr. MF, fr. L magnet-, magnes, fr. Gk 
   magneB-s (lithos), lit., stone of Magnesia, ancient city in Asia Minor 1a: 
   LODESTONE  1b: a body having the property of attracting iron and producing 
   a magnetic  field external to itself; specif : a mass of iron, steel, or 
   alloy that has this property artificially imparted 2: something that 
   attracts