Microcrystalline Sm‐Fe‐V magnets with a ThMn12crystal structure were prepared by mechanical alloying and a subsequent reaction heat treatment. In Sm15Fe70V15a coercivity of 11.7 kOe is obtained. This is the best value reported so far for 1:12 magnets. As expected from their high anisotropy fields, the 1:12 magnets, therefore, show coercivities which are common in the Nd‐Fe‐B system.