Most neodymium magnets are plated or coated in order to protect the magnet material from corrosion. Neodymium magnets are mostly composed of neodymium, iron, and boron. The iron in the magnet will rust if it is not sealed from the environment by some sort of plating or coating. Most of the neodymium magnets that we stock are triple plated in nickel-copper-nickel, but some are plated in gold, silver, or black nickel, while others are coated in epoxy, plastic or rubber.