What happens to electric field of a bar magnet? Electromagtic waves say that Magnetic field and electric field exist orthogonal to each other. Also all electric field has some magnetic field and vice-versa (As I understand).
In that case what is the electric field in a bar magnet looks like ?
If a shield the electric field using a metal like copper, does that mean magnetic field still penetrates and exists all alone ?
 How is this possible ?
 A: An oscillating magnetic field is always accompanied by an electric field. This is because Maxwell's equations tells us that (amongst other things):
$$ \nabla \times {\bf E} = - \frac{\partial{\bf B}}{\partial t} $$
On the right hand side of this equation the symbol $\partial{\bf B}/\partial t$ means the rate of change of the magnetic field with time, and on the left side ${\bf E}$ is the electric field. With an electromagnetic wave the magnetic field changes sinusoidally with time, and it is therefore accompanied by a sinusoidally varying electric field.
But in a bar magnet the magnetic field is constant - it doesn't change with time. That means in the equation above $\partial{\bf B}/\partial t = 0$ and when you do the maths this means the electric field ${\bf E} = 0$. So the bar magnet has no electric field.
Incidentally, the same argument applies to static electric fields. An oscillating electric field is always accompanied by a magnetic field, but a static electric field is not.
This also answers your last question about using a copper shield. A copper shield will not block a static magnetic field because there is no accompanying electric field to block.
A: In a bar magnet, if its a metal magnet, there is no electric field. Its the alignement of the iron that creates the magnetic field.
If you talk about an electro-magnet, the magnet is obtained by circulating current in circular motion in a coil. the following image represents this : 
You cannot shield the electrical field, because its inside the wire that makes the magnet. the magnetic field will exist by itself alone. Unless you near a supra-conductor which it will not penetrate.
