Was just wondering if someone could clarify this situation:
When I take a Allen wrench and let it come in contact with an iron nail nothing happens. Not really surprising. None of the objects are magnetic. When I take the wrench and let it touch the North end of a magnet and then let it come in contact with the iron nail. Here the wrench becomes magnetic and attracts the nail. When I repeat the previous step but with the south end of the magnet the wrench becomes magnetic and attracts the nail.
I was wondering in terms of functionallity, how functional is the method? Since a weak temporary magnet was created my guess would be the method is low in function. What could the pros and cons be and are there alternative ways to do this that would work even better?