Abstract: A compact electric device for magnetizing and demagnetizing metal shafts, screwdrivers, or metallic tools using stored electrical energy. Handheld portable versions are illustrated (see FIGS. 1, 1A, 2, and 2A). The end of a metal shaft, or screwdriver shaft, or other said instrument is placed in (see FIGS. 3 and 6) a receiving cavity or socket (96) which is the hollow center within two coils L1 (80) and L2 (82). The operator of the device chooses either demagnetization or magnetization via a switch (86), presses an action switch (88), and electric current flows through the coils and the rest of the device in a precise way to produce the desired effect of either magnetization or demagnetization. The inserted metal shaft or other said instrument may then be removed from the receiving cavity and is now either magnetized or demagnetized. Electric power is provided by one of three methods: hand-powered push lever AC power generator, DC batteries, or AC/DC converter connected to an external power connector (94).