of adjacent member 10 so that first end 16 pivots about ring 40 magnetic holder 1 may be used as follows ferromagnetic elements 12 on members 10 a and 10 c i e ferromagnetic elements 12 1 a 12 2 a 12 1 c and 12 2 c face outward and will therefore constitute the point of contact with any ferrous material which is brought into close vicinity of holder 1 for example any ferrous coins in proximity of magnetic holder 1 are magnetically attracted to and attach to the outwardly facing magnetic elements 12 1 a 12 2 a 12 1 c and 12 2 c on members 10 a and 10 c a user could for example place holder 1 into a pocket containing various magnetic coins and the coins would become attached magnetically to holder 1 since holder 1 is magnetic it can be attached to any object of magnetic material for example holder 1 can be magnetically secured to a large ferrous object such as a refrigerator door or tool box by placing one of the sets of outwardly facing magnetic elements for example 12 1 a and 12 2 a against the object the remaining pair of outwardly facing magnetic elements for example 12 1 c and 12 2 c can magnetically hold directly small magnetic objects therefore one aspect of magnetic holder 1 is that it comprises magnetic elements which cause it to attract or be attracted to magnetic objects a user could for example keep keys on ring 40 and store the keys conveniently by placing holder 1 on a refrigerator door various contact areas 30 lie between adjacent members 10 one contact area 30 1 is formed by a pair of magnetic elements.