I like the band and I thought I would like the magnet on the top but I'm not sure. I find all the things I lost attached to a magnet, drill, screw etc. I think I'll remove the magnets, they don't seem very valuable to me at least. In some cases they would be invaluable, but for me they are few. If you work with metal a lot then they are probably for you, but not so much for the average guy! I should also note that I have the same problem with magnets in general, they are good but also painful! I didn't find them easy to read either!
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