Abstract: A magnetic storage system receives electronic axial lead devices, particularly polarized devices such as diodes, that are advancing axially from a sorter. The storage system includes a chute assembly with an upper run that funnels the devices to a stop wall spaced from the lower end of the run. The stopped device forms an acute angle with a magnetic field extending horizontally across the chute assembly to produce a controlled rotation of the device to a horizontal orientation. The reoriented device falls through the spacing to a lower chute run that guides it in a lateral mode of advance to a bin cassette replaceably secured between a pair of magnet pole pieces. The pole pieces have a tapered thickness to develop a downwardly increasing magnetic flux density that promotes a high packing density of the devices in the cassette. A flapper valve is manually operable to block movement of the devices on the second chute assembly while a loaded cassette is being replaced with an empty cassette.