when the key 14 is received within the key receiving recess 86 each key magnet attracts its respective magnet 92 and rotates its respective magnetic body 26 up to an active position fig1 illustrates the magnetic bodies 26 positioned in the active position when the magnetic key 14 is positioned in the key receiving recess of the cylinder cap 24 in one embodiment the key 14 comprises a finger receiving portion 160 which allows a user to hold the key 14 and a lock abutting portion 162 adapted to be inserted into the key receiving recess 86 in one embodiment the lock abutting 162 comprises a plate 164 insertable into a recess located not shown in the finger receiving portion 160 the plate 164 comprises three insert receiving recesses 166 each for receiving a respective insert plate 168 each insert plate is provided with a magnet receiving recess 172 for receiving a respective key magnet 170 the position of the insert receiving recesses 166 within the plate 164 and the position of the magnet receiving recesses 172 within the insert receiving recesses 166 are chosen so that each magnet key 170 attracts its respective magnet 92 and rotates its respective magnetic body 26 up to an active position in one embodiment the magnetic key 14 and or the cylinder cap 24 is adapted to adequately orient the key 14 so that each key magnet be adequately positioned relative to its corresponding magnetic body 26 when the key 14 is inserted into the key receiving recess 86 for example the key 14 and the cylinder cap 24 may each be provided with a respective reference mark and the magnetic key is inserted into the key.