This Instructable isn't very challenging but it is very handy.
I have a 'thing' for magnets; I have dozens and dozens of them and all of them are working for me - doing something useful.
Step 1: Easy to Find / Handy to Use
One of my favorite sources of magnets is old speakers. If it isn't usable as a speaker, it isn't still junk. Not for me, anyway. I just remove the magnet (and the coil of magnet wire below it, often as not).
This is how to do it:
First, clamp the metal frame of the speaker in a bench vise. Clamp it good and tight.
Second, using a dull chisel, separate the magnet from the frame. They are usually riveted together, except the smaller, cheaper models. Just position the end of the chisel where the magnet and frame join and whack it soundly with a hammer.
The magnet will fall off, usually with the first hit.
For this project, you just need one magnet, a galvanized corner bracket, and a couple of screws. These brackets are generally sold in the construction department of Lowe's or Home Depot along with hurricane straps and joist hangers. I like to position them at eye level (seated) above my workbench.
Just mount the bracket and sit the magnet on it. Sounds too simple, but that's it. The magnet is easily strong enough to stick and stay put, and still hold a selection of things around the circumference. One thing that I use it for is my jeweler's screwdriver set. Drill bits or screwdriver bits are also held nicely in place, just where you need them. You can also use it for holding screws you take out of something as you disassemble it.