The physical and magnetic properties of permanent magnets compacted from elongated single‐domain particles with metal and organic matrices are described. Their unique properties which make possible novel design and application possibilities include: demagnetization curve flexibility; high‐energy and energy‐to‐weight ratio; uniformity of pole face flux; low‐temperature coefficient of remanence; precise dimensional tolerances; excellent machinability; solderability; low critical material content; and short radioactive half‐life. Compacts have been prepared from iron and iron‐cobalt particles with energies of 3.5 million and 5 million gauss‐oersteds, respectively. Compacts exposed to 200°C for over one year were observed to change remanence less than 1%.