Abstract: A permanent magnet holding system, e.g. adapted to handle ferromagnetic material, of which the cancellation of the magnetic holding force is effected with a minimum expenditure of energy, and wherein the external magnetism may reliably be cancelled out, comprises two or more permanent magnets fitted with polepieces so disposed that the external holding force can be controllably varied to total disappearance by a polarity reversal of permanent magnets by means of an electromagnetic coil; wherein the permanent magnet or magnets which the coil is intended to repolarize is/are made of a low coercivity permanent magnet material, and the other permanent magnet(s) is/are made of a relatively high coercivity material.