Neodymium Magnets are usually plated with three layers of protective plating. First layer of Nickel, then a layer of Copper and then a final layer of Nickel. This plating can wear away in the course normal use if it is sliding or impacting onto a steel surface. If the plating layers are worn away, then the magnet will be exposed to corrosion and since the magnets contain a high percentage of iron, they could rust.

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