Abstract: Rotary magnetic file including a base having a bottom and two sides. A shaft is mounted between said sides and a magnet is rotatably mounted on the shaft. A pair of magnetic members are mounted on said shaft at each side of said magnet. A pair of spacer members are mounted on said shaft on the outside of each magnetic members, the average diameter of the magnetic members being equal and less than the diameter of the spacer members. The edge of the spacer members adjacent to the magnetic members is gradually decreased to the dimension of the magnetic members. Index cards with clips of magnetic material may be mounted on said magnet and or magnetic members, the clips being formed to fit between the spacers in a self-centering manner.