Abstract: Cobalt rich amorphous metal alloys have a value of magnetostriction of about -6.times.10.sup.-6 to +4.times.10.sup.-6 and a saturation induction of about 0.1 to 1.0T. The alloys, especially suited for soft magnetic applications, have the formula (Co.sub.1-x T.sub.x).sub.100-b (B.sub.1-y Y.sub.y).sub.b, where T is at least one of Cr and V, Y is at least one of carbon and silicon, B is boron, x ranges from about 0.05 to 0.25, y ranges from about 0 to 0.75 and b ranges from about 14 to 28.