Anyone ever try it? I am off tomorrow think I will give it a try...(I wonder what you say to the game warden if you don't have a fishing license) Magnet fishing, also called magnetic fishing, is searching in outdoor waters for Ferromagnetic objects available to pull with a strong neodymium magnet. ... Today magnet retrieval tools are specially designed to retrieve items that are lost at the bottom of bodies of water. There are two main types of magnets. Magnet fishing - WikipediaWikipedia › wiki › Magnet_fishing .